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Marketplace Lending Hearing To Be Held By House Subcommittee

Businesses walking the government tightropeOn July 12th, the Subcommittee on Financial Institutions and Consumer Credit is scheduled to hold a hearing to examine the opportunities and challenges specifically in online marketplace lending. Among the witnesses offering testimony will be Parris Sanz, Chief Legal Officer of CAN Capital and Sachin Adarkar, General Counsel of Prosper Funding. […]

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Should Marketplaces Have Skin In The Game?

These answers were offered by the following execs to the question over whether or not lending marketplaces should have skin in the game, during a panel at LendIt in April. Gilles Gade, Cross River Bank YES Jeffrey Meiler, Marlette Funding NO David Johnson, First Associates IT DEPENDS Sid Jajodia, Lending Club YES (but it depends […]

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Fintech Hearing Summary (7/12/16)

A hearing about marketplace lending put on by the House Subcommittee on Financial Institutions and Consumer Credit covered a wide array of topics on Tuesday. From merchant cash advance to business loans to consumer loans, the witnesses tried to help members of Congress understand the circumstances in their respective industries. Parris Sanz, the Chief Legal […]

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Are Retail Investors Really The Secret to Marketplace Lending Stability?

Wall Street 2015One anecdotal lesson that marketplace lenders seem to be circulating in 2016 is that outside institutional capital alone isn’t enough to succeed long term, at least on the consumer lending side where the yield spreads are typically narrower. Retail investors are crucial, some of them say, to achieve balance. In late March for […]

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Brief: Lending Marketplaces Bizfi and Lendio Forge New Partnerships

Online lending marketplace Lendio has partnered with digital marketing company Townsquare Media to tap into its customer base and offer loans to small businesses. The two companies will collaborate on cross-promoting appropriate products and services and marketing Lendio’s platform with 75 lenders and its loan products to businesses. Meanwhile, another marketplace lender Bizfi got together […]

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CommonBond Raises Equity, Debt and Acquires Personal Finance Startup, Gradible

Did someone say trouble in (online lending) paradise? CommonBond has raised $30 million in equity, $300 million in debt and acquired a personal finance startup, Gradible. The New York-based online student loan lender that specializes in higher education loans raised $30 million in series C equity round from new investor Neuberger Berman along with existing […]

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United Capital Source is Now Licensed in California

United Capital Source, the company featured in deBanked’s September/October magazine issue, announced that they’ve become licensed by the State of California Department of Business Oversight as a finance lender and broker. “With its new license, UCS will be writing high quality loans for California small business owners,” Weitz wrote. California attorney Paul Rianda wrote a […]

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