Business Lending

Goldman, Cohen Bet on Nav

May 19, 2017
Article by:

Levi King, Nav

CEO Levi King, Nav Goldman Sachs. Steve Cohen. These are a couple of the high-profile investors that small business credit and finance startup Nav has attracted to line its coffers. Nav recently lifted the size of a Series B round by $13 million for lead investor Goldman Sachs Principal Strategic Investments as well as Cohen’s […]

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Are You a Loan Broker? You Need to Be Licensed in Vermont

May 12, 2017
Article by:

Welcome to Vermont

Loan broker licensing may have gotten stalled in New York, but in Vermont, it’s the law. Governor Phil Scott made H. 182 official on May 4th, regulating everyone engaged in loan solicitation with prospective Vermont borrowers. Specifically this applies to anyone that: offers, solicits, brokers, directly or indirectly arranges, places, or finds a loan for […]

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Kabbage’s Next Growth Phase

May 9, 2017
Article by:

Victoria Treyger, Kabbage

Victoria Treyger, Chief Revenue Officer, Kabbage When you consider the recent milestones Kabbage has achieved it makes it difficult to think of the fintech lender as a startup. In recent weeks Kabbage surpassed a couple of major milestones comprised of extending $3 billion in funding to 100,000-plus small businesses. More than half of those loans […]

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OnDeck On the Path to Profitability?

May 8, 2017
Article by:

OnDeck NYSE

In their earnings announcement this morning, OnDeck predicted that GAAP profitability would be achieved in the second half of 2017. For now, the GAAP net loss in Q1 was only $11.1 million, down from $36.5 million in Q4. The company originated $573 million worth of loans for the quarter. OnDeck has been under pressure from […]

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Two Small Biz Owners Talk Online Borrowing

May 5, 2017
Article by:

online small business loan

Katie Basson, President of Birch Tree Promotions During National Small Business Week, we wanted to see what we can glean from a couple of small business owners who have taken to the Internet for their capital needs. Entrepreneurs Katie Basson of Birch Tree Promotions and Asha Waterstreet of Tasteful Additions document their experience as first-time […]

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Square Lent $251 Million to Small Businesses in Q1

May 4, 2017
Article by:

Square IPO

It was another big quarter for Square Capital, who originated more than 40,000 business loans for a total of $251 million. That’s an increase of 64% year-over-year but only up 1.2% from the previous quarter. The company had $51 million in loans held for sale on their balance sheet as of March 31st. Overall, Square, […]

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Alternative Lending Is Dead

April 30, 2017
Article by:

Alternative Lending is Dead

This article is from deBanked’s Mar/Apr 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE At LendIt, Kabbage co-founder & CEO Rob Frohwein, blew the roof off the house with his presentation. Titled, “Alternative lending is dead, long live data,” he explained what he believes the industry should really be about. On why the […]

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What IOU Financial Revealed in its Earnings Statement

April 29, 2017
Article by:

IOU logo

2016 was a weird year for online lenders and IOU Financial, who lends to small businesses, fared no differently. Loan origination volume for the year was $107.5 million, down 26.5% from 2015. Revenues were up due to the company retaining more of their loans on balance sheet but losses were up as well. Here are […]

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The Secret to Reviving Your Alternative Lending Business

April 14, 2017

programmer

It’s no secret times are changing for Small and Medium Enterprise (SME) lending. I think we can all agree the easy return on investment has given way to rising defaults and an origination engine that sounds like it’s barely chugging along. We all know the basic math in this business. Put lots of money on […]

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81% of Online Business Lending Borrowers Report Being Satisfied or Neutral

April 12, 2017
Article by:

satisfaction levels

The latest Small Business Credit Survey published by the Federal Reserve shows that 81% of small business borrowers were either satisfied or neutral about their online loan experience. Online lenders were defined as nonbank alternative and marketplace lenders, including Lending Club, OnDeck, CAN Capital, and PayPal Working Capital. Of the 19% that were dissatisfied, nearly […]

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