Is there reason for concern? A Morningstar report on debt shows rising delinquencies in student loans and auto loans. While the rate for student loans more than 90 days past due declined to 11.0 percent in the first quarter, from 11.5 percent in the fourth quarter 2015, it has been rising since the end of […]
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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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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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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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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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executives in the small business lending and merchant cash advance space showed a decline in confidence in the industry’s continued success, down from 91.7% in Q1 to 78.5% in Q2. Respondents were not asked to explain the reasons behind their confidence levels, but increased competition is likely one contributing factor. No doubt some of the […]
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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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Another capital source you say? Online lenders are ready with an answer and this time it seems to be securitization. Time and again we have had heard industry folks harp on about diversification of capital being the need of the hour. Well, that hour is here, it seems like. Things are looking up for Lending […]
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Square is making a jump across the pond to sell its service in the UK. The payments company incorporated Squareup Europe Ltd in London early last month. The six year old company started by Twitter chief Jack Dorsey plans to provide payment services in Britain which it began testing last month, Reuters reported. With a […]
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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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