Tagged: small businesses

Lendio Announces New Franchise in Detroit

Lendio, an online lending marketplace for small business loans, announced on Thursday the opening of its new franchise in the Detroit Metro area. Through the franchise program, Darnell Parker, President of Lendio Regional Lending Services, will help local businesses in the community apply for loans, review their… Read More

OnDeck Appoints Former GE Capital & SunTrust Executives to Finance Team

On Tuesday, small business lending platform OnDeck announced two senior financial services executives to join its management team. Kelly Merrill and Erich Wust will assume new leadership roles that directly support the online lender’s  mission of empowering small business owners with the fastest and most… Read More

Harmoney Reports Increase in Kiwi SMEs That Are Tapping into P2P Lending for Business Cashflow

Earlier this week, Harmoney announced there has been an increase in Kiwi SMEs that are tapping into peer-to-peer (P2P) lending for business cashflow. The New Zealand online lender stated it estimates $100 million will be loaned to business accounts through its lending platform within the… Read More

Growth Street Milestone: P2P Business Lender Surpasses £100 Million of Lending

UK-based peer-to-peer business lender Growth Street has successfully surpassed £100 million in online lending. The platform, which was launched in 2013, allows investors to lend to small-and medium-size businesses using a flexible working capital solution. According to Peer2Peer Finance News, along with its lending milestone, Growth… Read More

Funding Options Announces Support For FCA’s Plan to Extend Financial Ombudsman Services

Funding Options, a UK-based online marketplace for business finance, announced on Wednesday it is supporting Federal Conduct Authority (FCA) plans to allow more SMEs access to the Financial Ombudsman Service (FOS). Established by Parliament, FOS describes itself as the UK’s official expert in resolving complaints between financial businesses and… Read More

Lendio Provides More Than $25,000 in Loans to Over 1,200 Small Business Owners Through Lendio Gives on Kiva

On Wednesday, p2p lending platform Lendio announced it has provided loans to more than 1,000 small business owners around the globe through its Lendio Gives program on Kiva. The online lender stated it gave over $25,000 in loans to over 1,200 small business owners in 75 countries…. Read More

Canadian Small Business Lender Lendified Secures $60 Million Credit Facility From ClearFlow

Lendified, a Canada-based lender who provides small business loans online has entered into an agreement with ClearFlow Commercial Finance to increase its lending capacity. According to the lending platform, through the agreement, ClearFlow is providing it with a $60 million credit facility to fund loans… Read More

RateSetter Teams Up With Experian to Help Businesses Invest & Grow

Peer-to-peer lending platform RateSetter announced on Friday it has formed a partnership with Experian to help businesses both invest and grow. The online lender revealed that the new collaboration with Experian is now providing credit reference data and analytical services, which ensure that RateSetter continues… Read More

Seed Launches Full-Service Digital Bank Alternative for Small Businesses

San Francisco-based Seed announced on Wednesday the launch of its new full-service digital bank alternative that is designed specifically for small businesses. While sharing details about the services, Brian Merritt, Co-Founder and CEO of Seed, stated: “Traditional banks have struggled to take care of their small… Read More

American Express Announces New Finance Product For Small Businesses

American Express (AMEX) announced on Thursday the launch of a new addition to its suite of business financing products, which are designed to help businesses with access to working capital and short-term financing, Business Loans. According to the financial service giant, Business Loans now gives small businesses… Read More

Biz2Credit’s New Small Business Lending Index Reveals: Bank & Institutional Lender Loan Approval Rates Climb in September 2017

On Tuesday, Biz2Credit announced the release of its latest monthly analysis, which revealed that Business loan approval rates at big banks ($10 billion-plus in assets) hit another post-recession high in September 2017. According to the report, Small business loan approval rates at big banks improved two-tenths of… Read More

Funding Circle Set to Support UK Small Business Growth Through Strategic Partnership With Aegon

On Thursday, online lender Funding Circle announced it has formed a strategic partnership with Dutch financial services group, Aegon, to support the growth of UK small businesses. According to Funding Circle, Aegon is set to invest in loans to UK small businesses through its lending… Read More

Lendistry Announces $3 Million Commitment From Community Bank & Forms a Partnership to Invest in Southern California Small Businesses

On Wednesday, technology-enabled small business lender and community development financial institution, Lendistry, announced it received a $3 million commitment from Community Bank. The companies have now teamed up to launch the Lendistry CRA Loan Fund I, which is a commercial small business (C&A) and commercial… Read More

Biz2Credit’s Latest Small Business Lending Index Reveals: Loan Approval Rates at Big Banks Reached New Post-Recession High in July 2017

On Tuesday, Biz2Credit announced the release of its latest monthly analysis, which revealed that loan approval rates at big banks ($10 billion-plus in assets) increased to a new post-recession high in July 2017 and the loan approval percentages of institutional investors also set a new… Read More

StreetShares Appoints Former Capital One Executive Heather Tuason As New Chief Product Officer

Financing military veteran-owned small businesses lender StreetShares announced appointed former Capital One Senior Vice President of Small Business, Heather Tuason, as its new Chief Product Officer. According to StreetShares, in her role as Chief Product Officer, Tuason will accelerate the growth of StreetShares lending and investment products… Read More

Fundera Survey Reveals: Majority of Small Business Owners Are Unaware of Available Financial Resources

Fundera announced on Tuesday the release of its new survey on the state of small business lending. The report asked small business owners about their experience with credit, lending, and financial resources. According to Fundera, the survey revealed that business owners do not know enough… Read More

LendingClub Expands Partnership With Opportunity Fund to Provide Underserved Small Businesses With Access to More Loans

Earlier this month, leading peer-to-peer lender Lending Club announced it has expanded its partnership with Opportunity Fund to provide underserved small businesses with access to loans they need in order to grow. Lending Club revealed: “Access to credit has long been a challenge for small businesses,… Read More

Biz2Credit’s Latest Small Business Lending Index Revealed: Loan Approval Rates Rebound at Big Banks in June 2017

On Tuesday, Biz2Credit announced its latest Small Business Lending Index revealed that loan approval rates at big banks, $10 billion-plus in assets, increased to post-recession highs in June 2017 while small banks, alternative lenders, and credit unions experienced a decline in the percent of funding… Read More

Assetz Capital Reaches 20,000 Investor Milestone; Announces Seven Figure Pre-Tax Profit in 2016/2017 Financial Year

P2P lender Assetz Capital announced on Thursday it not only turned a seven-figure pre-tax profit in the 2016/17 financial year, it has also reached its 20,000 investor milestone. The online lending platform confirmed: “From April 2016 to March 2017, a total of £126 million was… Read More

Biz2Credit Reports: Loan Approval Rates Drop at Banks & Alternative Lenders in May 2017

On Tuesday, Biz2Credit released its latest Small Business Lending Index that revealed loan approval rates at big banks, small banks, alternative lenders, and credit unions took a slight dip in May 2017. According to the lending platform, small business loan approval rates at big banks… Read More