Online Lending

C-level Credit Exec Leaves Lending Club for Affirm

September 21, 2017
Article by:

business team

Lending Club’s Chief Credit Officer and Interim General Manager, Sandeep Bhandari, has joined fintech lender Affirm, according to Affirm CEO Max Levchin. Levchin posted the following on LinkedIn: I am excited to announce and welcome Sandeep Bhandari to Affirm, Inc. as Chief Strategy and Risk Officer (CSRO). Sandeep joins us from Lending Club where he […]

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What Will it Take to Grow OnDeck’s Stock Price?

September 20, 2017
Article by:

ondeck capital ipo

OnDeck closed at the exact same price on September 14th as it did on July 20th, $4.58. In between, OnDeck reported one of their best quarters ever (they released their 2nd quarter earnings on August 7th) and experienced a temporary boost to $5. Even then, the stock was 75% down from the IPO price and […]

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New CTO at Breakout Capital is Former CTO of Capital One Labs

September 18, 2017
Article by:

Welcome aboard

Firoze Lafeer, the former Capital One Head of Tech Fellows Program and CTO, Capital One Labs, is now the CTO of Breakout Capital, a Breakout representative confirmed. Lafeer was with Capital One for five years, most recently running the company’s experimental product & technology incubator and accelerator. Breakout Capital is a fintech small business lender […]

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The Google Battle for Lending and SMB Finance Keywords

September 14, 2017
Article by:

google search

The online lending battle is at least in part being fought online. Below is a chart of organic page 1 rankings in Google for some of the industry’s biggest players, banks, and the SBA. (Hat tip to Fundera and NerdWallet): Keywords OnDeck Kabbage Fundera Lending Club NerdWallet National Funding Traditional Banks SBA.gov business loan 1 […]

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Where Alternative Finance Ranks on the Inc 5000 List

September 14, 2017
Article by:

rankings

Here’s where your peers rank on the Inc 5000 list for 2017: Ranking Company Name Growth Revenue Type 15 Forward Financing 12,893.16% $28.3M MCA 47 Avant 6,332.56% $437.9M Online Consumer Lender 219 OppLoans 1,970.22% $27.9M Online Consumer Lender 260 US Business Funding 1,657.42% $5.8M Business Lender 361 nCino 1,217.53% $2.4M Software 449 Kabbage 979.31% $171.8M […]

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Bond Street Has Stopped Lending

September 13, 2017
Article by:

bond street

NYC-based small business lender Bond Street has stopped making new loans, according to sources who worked with them. The Wall Street Journal published a similar report earlier today. In addition, the WSJ reported that Goldman Sachs is hiring 20 of Bond Street’s employees. Just seven months ago, Bond Street announced that they had closed a […]

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The State of The Industry (In Memes)

September 2, 2017
Article by:

ISOs vs Direct Sales

The state of things in MCA, online lending, and fintech through the disloyal boyfriend meme: SEE MANY MORE DEBANKED MEMES The History of Alternative Finance (As Told Through Memes) Ready to Trade ONDK and LC? Scroll to the bottom of the page 10 Clues You’re Hardcore About Merchant Cash Advance

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Ford, MCA Funders Take Pages from Tech-Based Underwriting

August 29, 2017
Article by:

Ford

Alternative lending fever has spilled over into the auto sector, evidenced by the financing arm of automaker Ford’s decision to move beyond FICO and deeper into machine learning for credit decisions. Ford is moving toward alternative lending strategies in an attempt to capture a wider swath of borrowers, including those with “limited credit histories,” and […]

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Tips From the Source: Small Businesses Told deBanked How They Wanted Loans to be Marketed to Them

July 31, 2017
Article by:

Main Street Brick

This article is from deBanked’s Jul/Aug 2017 magazine issue which appears under the title, Practical Tips for Marketing to Small Businesses. To receive copies in print, SUBSCRIBE FREE Small business owner Jim Moseley is inundated with calls from online funders—and he hates it. They frequently use unscrupulous tactics to try and get his attention. More […]

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PayPal & LendUp Bridge Financial Inclusion Gap

July 25, 2017
Article by:

Sasha Orloff

Sasha Orloff, CEO, LendUp PayPal put its stamp of approval on fintech startup LendUp, evidenced by a strategic investment by the eBay spinoff in recent weeks. In doing so PayPal demonstrated its commitment to non-prime borrowers, which is the demographic that San Francisco-based LendUp targets. The pairing brings together the chief executives of two companies […]

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