PYMNTS

JANUARY 27, 2020

In the wake of the financial crisis, banks’ pullback from small- to medium-sized business (SMB) lending yielded a flood of technology-driven players stepping in to fill the SMB credit gap. But addressing SMB lending friction isn’t just about connecting borrowers and lenders at the moment an SMB needs capital, he said.

Lending 157

Lending Online Capital Data 157

PYMNTS

DECEMBER 13, 2017

First National Bank and Trust Company is planning the launch of a digital small business lending portal and has tapped a partner to create the solution. The digital lending portal — which can be accessed via desktop or mobile device — supports eSignatures, and approved borrowers can receive loan funds in just three days.

National 108

National Lending Online Mobile 108

Bank Innovation

AUGUST 8, 2017

Better originations, better sales, more revenue: wow, did Lending Club just report a positive quarter? The company recorded about $140 million in total net revenue for the quarter, representing “the second highest revenue […].

Lending 318

Lending Report Company Online 318

PYMNTS

AUGUST 1, 2016

Online lending was all the rage even a few months ago, but funding going toward online lending platforms is on the decline. equity investments going toward online lending companies fell 44 percent in the first half of 2016 to $2.1 According to a new report from PitchBook Data, Inc., billion.

Lending 100

Lending Online Maine Fraud 100

PYMNTS

OCTOBER 16, 2018

OnDeck Capital has created a unit that will provide technology and services for banks lending to small businesses over the internet. Reuters , citing the company, reported the new company will be called ODX and will expand its business, in which it provides lending software to banks.

Lending 108

Lending Online Conference Software 108

PYMNTS

JULY 24, 2020

Online lenders will need the green light from the central bank to roll out new offerings or hike lending rates if the legislation is put into law, Quartz Africa reported. Online lending has brought about a number of complications in Kenya, with digital loans reportedly leading rising personal debt for users in the country.

Lending 157

Lending National Mobile Online 157

PYMNTS

FEBRUARY 14, 2020

has debuted a new version of its B2B point-of-sale (POS) lending platform to help enable real-time lending for business purchases, the company said in an announcement. Technology and equipment vendors can be live in a matter of minutes, offering real-time POS lending with little or no integration needed. “As

Lending 151

Lending Groups Online Technology 151

PYMNTS

JANUARY 17, 2021

This will mark Figure’s fifth online financing facility, in which the company has closed almost $1.5 With the facility, Figure will work on fueling mortgage lending growth, which shot up nearly 50 percent month over month in the fourth quarter. billion, in partnership with numerous banks and facilities, including Jefferies.

Lending 199

Lending blockchain National Payments 199

PYMNTS

MAY 29, 2019

So, it’s within that context that PayPal announced new numbers today (May 29) on the impact of its lending business on the small business sector. In a new PYMNTS interview, Karen Webster spoke with PayPal’s VP and General Manager of SMB Lending Darrell Esch about the story behind that $10 billion mark, and what’s coming next.

Lending 221

Lending Capital Operations Community 221

Bank Innovation

FEBRUARY 15, 2017

Lending Club may be back on track with banks, but not soon enough to help its fourth quarter results. 2016 was a tumultuous year for the online lender. The company set high goals for the fourth quarter, including its determination to generate $2 billion in loans. The lender’s very narrow miss of Read More.

Lending 236

Lending Online Company Operations 236

PYMNTS

MAY 5, 2020

Digital lending marketplace BitX Funding , which matches business owners and non-bank lenders, is aiming to help Amazon third-party (3P) sellers grow. ” The firm said Fulfill by Amazon (FBA) sellers have a “tremendous opportunity” to expand with the online economy.

Lending 159

Lending Online Tools Capital 159

PYMNTS

MAY 2, 2017

In a partnership formed recently with Puerto Rico’s Oriental Bank, Biz2Credit said late last month that it has begun offering its digital lending platform to the bank’s commercial clients. Drilling down a bit into the Puerto Rico market in particular, Arora noted some differences between small business lending versus, say, the United States.

Puerto Rico 118

Puerto Rico Lending Online United States 118

PYMNTS

MARCH 6, 2019

As has been reported, the company’s capital lending program lets companies receive cash advances against future revenues. The company said in a statement that the total amount of funding advanced to firms was up 60 percent, reaching that £1 billion tally in 2018.

Lending 168

Lending Capital Online Company 168

PYMNTS

APRIL 15, 2019

Online lenders in the U.S. Reuters , citing interviews with half a dozen online lenders, reported the companies are worried that a recession could hit the U.S. It would be a test for many of the online lenders that haven’t lived through an economic downturn.

Online 165

Online Lending Capital Report 165

PYMNTS

MARCH 26, 2019

The industry indeed proved to be lucrative for FinTechs, with alternative lending often landing at the top of venture capital investment reports with giants like Kabbage , OnDeck and LendingClub securing an early lead in the industry. Further, GLI Finance revealed a $25.93

Lending 190

Lending Capital Fintech Security 190

PYMNTS

APRIL 28, 2020

The Federal Reserve is nearly ready to debut its new Main Street lending program, and it is reaching out to banks for advice, according to a report from CNBC. The program in question will create up to $600 billion in loans for companies with 10,000 employees or less, or up to $2.5 billion in sales from 2019.

Maine 184

Maine Lending Taxes Industry 184

PYMNTS

OCTOBER 20, 2016

Online lending may be dominated by startup companies based outside of New York, but the New York State Department of Financial Services (NYDFS) wants New York banks to get into the business as well. The report noted Vullo’s remarks follow the launch last week of Goldman Sachs’ online lending platform, dubbed Marcus.

New York 100

New York Lending Online Cards 100

Abrigo

NOVEMBER 6, 2019

Small Business Loans | 5 minute read Key Takeaways Credit unions' small business loans hit a record low, while small business lending continues to remain strong at big banks and community banks. Going digital can help reduce the cost of small business lending and capture more member business loans. Talk to an expert.

Lending 150

Lending How To Community Community Bank 150

PYMNTS

OCTOBER 8, 2018

Goldman Sachs might be reining in its online lending platform due to concerns about the stage of the credit cycle and changes in market data. Bloomberg cited sources that claim the company’s Marcus unit has slashed its loan originations target for next year. Then in August, the company launched Marcus in the U.K.,

Lending 151

Lending Online Report Marketing 151

PYMNTS

JANUARY 2, 2020

Sezzle — a “buy now, pay later” (BNPL) company based in Minnesota, but listed in Australia — was denied a crucial lending license from California. Rival BNPL company Afterpay ’s application was approved by the state. The company offers U.S. According to a statement by Sezzle on Thursday (Jan. ”

CA 130

CA Lending California Minnesota 130

PYMNTS

AUGUST 15, 2019

Monzo , an online bank out of London, has added loans to its menu of services, the Financial Times reported on Thursday (Aug. can apply for loans as the online bank advances its efforts toward profitability. . He added that jumping into more traditional lending “can get us a good way to profitability, if not even all the way.”.

Lending 161

Lending Los Angeles Digital Banking San Francisco 161

Bank Innovation

MAY 4, 2017

The lending business appears to be treating Square well. The division of the company responsible for providing loans to small businesses and Square sellers across its global network, Square Capital, processed more than 400,000 business loans for the quarter, for a total of $251 million. This is up 64% from last year.

Capital 239

Capital Company Lending Payments 239

Abrigo

AUGUST 28, 2019

Slow lending decisions and frustrating loan application processes are among borrowers’ biggest gripes with traditional financial institutions vs competitors such as online or alternative lenders. Alternatively, the institution can offer to help the prospect fill out the online application in the branch or over the telephone.

Lending 150

Lending Analysis Taxes Data 150

Bank Innovation

JUNE 12, 2019

Lending platforms are evolving to the needs of younger customers’ financial habits, a pair of fintech executives told an audience at CB Insights’ Future of Fintech conference in New York Wednesday. Max Levchin, CEO of point-of-sale lender Affirm, said roughly 67% of his company’s customer base is Generation X and younger.

Lending 199

Lending New York Conference Fintech 199

PYMNTS

JUNE 17, 2016

Not all is lost in the online lending space. The company makes loans to people who seek to pay off their credit card debt. The publication also noted that, according to financial consultant Todd Baker, some online lenders must transition to resemble traditional models, perhaps emulating or doing business with those firms.

Lending 100

Lending Online Millennials Capital 100

PYMNTS

APRIL 8, 2019

Kabbage, the global financial services company for small businesses, announced Monday (April 8) it has closed the largest asset-backed securitization (ABS) by a small business online lending platform to date for $700 million. In early 2019, the company announced it was powering the Pay Later program for U.S.

Lending 137

Lending Online Strategy Company 137

Bank Innovation

SEPTEMBER 8, 2017

Chinese insurance company ZhongAn Online Property and Casualty Insurance, which boasts a customer base of 500 million people, has obtained approval to open an initial public offering (IPO) on the Hong Kong stock exchange. China’s first online-only insurance company hopes that the IPO will raise as much as $1.5

Company 231

Company Regulation Online social media 231

PYMNTS

NOVEMBER 12, 2018

Online lender Social Finance (SoFi) continues to struggle, recording an adjusted loss of around $12 million during the third quarter before interest, taxes, depreciation and amortization. The FinTech company has now recorded losses for the second consecutive quarter. In August, it posted a second quarter loss of about $200 million.

Online 183

Online Lending Leadership Taxes 183

PYMNTS

OCTOBER 1, 2020

In today’s top news in digital-first banking, Memo Bank is rolling out an interest-bearing account for companies, while lending marketplace October has notched roughly $303 million in funding. Lending Platform October Raises Funding for SMB Loans. Also, Goldman Sachs is looking at reducing its workforce.

Lending 150

Lending Innovation Fintech US 150

CB Insights

AUGUST 16, 2021

Upgrade , an online lending platform, has raised $105M in a Series E. HOW’S THE COMPANY PERFORMING? The company recently launched its Upgrade Bitcoin Rewards Card — a credit card that offers rewards in bitcoin rather than cash. It also offers a checking account that features 2% cashback rewards.

Lending 68

Lending Online Bitcoin California 68

Bank Innovation

MAY 13, 2016

The firing of Renaud Laplanche at Lending Club has not stemmed the stock’s decline, and some market observers are starting to say that the online marketplace company might go into a financial “death spiral.” ” The issue was and is trust. Apparently, the errant sale of loans to Jefferies & Co.

Lending 150

Lending Online Marketing Company 150

PYMNTS

MAY 13, 2016

The new injection of capital brings Capital Float’s total funding raised so far to about $42 million, with the company being valued at over $100 million, The Economic Times reported. By next year, the company will be many times larger than it is now.”.

Lending 100

Lending Online Capital Fintech 100

PYMNTS

MAY 25, 2016

As the dust continues to settle from the great Lending Club explosion, the big banks of Wall Street are reportedly inking up their Plan Bs when it comes to exposure to those loans should the market deteriorate more. “This is noise banks want to avoid,” said Allard, who heads FireBreak Capital, a hedge fund that focuses on lending.

Lending 100

Lending Online Capital New York 100

PYMNTS

MARCH 15, 2019

Some of the largest global financial institutions are taking steps further into Mexico’s small business lending and finance space, the result of heightened competitive pressure imposed by FinTechs and alternative lenders in the market, reports in the Wall Street Journal said Thursday (March 14).

Lending 189

Lending Fintech National Taxes 189

PYMNTS

FEBRUARY 3, 2020

Goldman, according to reports in Bloomberg, would be added to the Amazon lending platform, which has traditionally helped merchants get the funding they need to get inventory. Amazon Lending traces its roots back to 2011, and the company had $863 million in SMB loans, according to recent filings with the Securities and Exchange Commission.

Lending 146

Lending Apple Study Online 146

Bank Innovation

MAY 5, 2017

Lending Club might be through the woods, thanks to banks. Banks made up a “record” 40% of the lender’s almost $2 billion originations for the quarter, up from 31% last quarter, according to Lending Club CEO Scott Sanborn.

Lending 225

Lending Company Online Technology 225

Bank Innovation

AUGUST 15, 2017

FICO is moving major services to the cloud, and that may mean good times ahead for lending startups.

Lending 274

Lending Company Online 274