Tagged: online lending

March 29, 2017 @ 12:42 pm By JD Alois  |  

Bond Street, an online lender for small businesses, and NerdWallet, have partnered to provide access to SME loans. As part of the partnership, Bond Street will be featured on NerdWallet’s Small Business Loan Tool, along with other lenders that provide capital to small businesses across the… Read More

March 28, 2017 @ 5:59 am By Erin Hobey  |  

Global Debt Registry (GDR), the asset certainty company known specializing in loan validation, will be utilizing data from credit information provider TransUnion in order to extend the range of GDR’s eValidationSM services for investors and issuing creditors in the online lending industry. By combining GDR’s expertise in real validation of… Read More

March 27, 2017 @ 9:11 pm By Jonathan Nieh  |  

Current State of Affairs Small business lender Kabbage announced earlier this month that it would begin selling over $525 million worth of loans to investors, which will in turn increase its lending capacity to over $2.7 billion. In contrast, Kabbage’s competitor OnDeck, has seen its share… Read More

March 27, 2017 @ 7:33 am By JD Alois  |  

LendInvest and Pepper UK have formed a partnership where Pepper UK will take all responsibility for servicing all new loans originated on the LendInvest platform. Effectively, LendInvest has outsourced its entire loan servicing part of the business. The agreement should allow LendInvest to focus more… Read More

March 24, 2017 @ 3:42 pm By Samantha Hurst  |  

Online consumer lending platforms and services, Marlette Funding, announced on Friday it completed its second proprietary “MFT” securitization. The lender reported that approximately $333 million of Best Egg collateral was financed through the transaction. According to Marlette Funding, the transaction was significantly oversubscribed and successfully… Read More

March 22, 2017 @ 2:29 pm By JD Alois  |  

Acts of fraud have been around since the dawning of time. How fraud occurs is a never-ending, shape-shifting challenge for individuals, companies and public authorities. There will always be a new scam. There will always be another Ponzi or Madoff looking to separate hard-earned money… Read More

March 22, 2017 @ 10:12 am By JD Alois  |  

Xero has announced a series of new agreements to integrate a handful of online lending platforms. Xero has added MarketInvoice, iwoca, and DueCourse to its software platform. Xero is an online accounting software designed for small business and their advisors. The company currently has over… Read More

March 20, 2017 @ 4:17 pm By JD Alois  |  

Fitch Ratings has taken the following rating actions on Citi Held for Asset Issuance 2016-PM1 (CHAI 2016-PM1), which is backed by marketplace loans originated via the Prosper platform: Class A upgraded to ‘Asf’ from ‘A-sf’; Outlook Stable; Class B upgraded to ‘BBBsf’ from ‘BBB-sf’; Outlook… Read More

March 16, 2017 @ 8:54 am By JD Alois  |  

Yirendai Ltd. (NYSE:YRD), a prominent online lender in China, announced its unaudited financial results for the quarter and full year ended December 31, 2016. Folowing the release, shares moved lower in pre-market trading. In Q4 of 2016, Yirendai reported it had facilitated 194,505 investors with total… Read More

March 15, 2017 @ 8:39 am By JD Alois  |  

Lendix has opened its platform to Italian investors. Following the launch in Spain, Lendix, a leading online lender targeting the SME sector, expects to issue its first loans in Q2 of 2017.   Yes, we are open ! Sì, siamo aperti ! Oui, nous sommes… Read More

March 14, 2017 @ 12:08 pm By Spencer Li  |  

One of the fundamental differences between Chinese and US lending platforms can be found just by examining the home pages of their websites. Most, if not all, US platforms’ landing pages are targeted at borrowers and exhibit mainly information around borrowing whereas, on those of… Read More

March 8, 2017 @ 5:18 pm By JD Alois  |  

LoanHero, a retail Fintech and loan origination platform for automated lending to consumers at the point of need, has announced a strategic partnership with Quorum Federal Credit Union. Quorum is a full-service financial institution currently serving over 70,000 members across all 50 states. The partnership with… Read More

March 6, 2017 @ 4:54 pm By JD Alois  |  

Ron Suber, the President of Prosper and a perennial keynote speaker at the annual LendIt conference, delivered a rousing update on the status of marketplace lending.  Directly addressing the challenges that impacted all online lenders in the past year, Suber stated; “Success this past year required… Read More

March 6, 2017 @ 7:14 am By JD Alois  |  

Stuart Law, CEO and co-founder of P2P lender Assetz Capital, expects a boost for the peer to peer lending sector in the upcoming budget. Specifically, Law believes a small business tax rise and IFISA rule change could boost the online lending sector. “In just a few… Read More

March 3, 2017 @ 4:40 pm By JD Alois  |  

Orchard’s platform published their quarterly report a few days back covering Q4 of 2016. According to Orchard, loan volume increased in Q4 reversing a trend that began in Q4 of 2015.  While originations ticked up in Q4 versus Q3, they are still nowhere close to where… Read More

March 3, 2017 @ 11:25 am By JD Alois  |  

Lending Club (NYSE:LC) has was a significant court victory regarding its ability to compel arbitration. The case Bethune v. LendingClub Corp. was filed in the Souther District Court of New York in 2016. The issue pertained to the interest rate a New York resident was being charged… Read More

March 3, 2017 @ 10:52 am By JD Alois  |  

Online lending platform UpStart has raised $32.5 million led by Rakuten, a Japanese conglomerate that has been pushing into Fintech, and a large “US-based Asset manager”. Existing investors Third Point Ventures, Khosla Ventures, and First Round Capital also participated in the funding round. Oskar Mielczarek de… Read More

March 2, 2017 @ 12:12 pm By JD Alois  |  

4finance Holding S.A., a large European online and mobile consumer lending company, has published unaudited consolidated results for the twelve months ending 31 December 2016. According to their information; Revenue up 24% to € 393.2 million in the Period compared with € 318.3 million in… Read More

February 28, 2017 @ 4:23 pm By JD Alois  |  

CommonBond, an online lender that provides student loan refinancing as well as personal loans, has launched a new scholarship program. CommonBond has now lent almost a billion dollars to fund education and they see an opportunity to help make student loans more affordable by launching a… Read More

February 28, 2017 @ 12:00 pm By Gillian Roche-Saunders  |  

This morning every P2P platform received a Dear CEO letter from the FCA, stating that platforms should not facilitate loans to a party who lends those monies onwards, unless that party is authorised for accepting deposits.  The issue here is really with the underlying lenders… Read More