Online Lending

Report Demonstrates How Online Lenders Benefit Economy

May 31, 2018
Article by:

Main Street Brick

A report on “The Economic Benefits of Online Lending to Small Businesses and the U.S. Economy” was released yesterday, using data from 180,000 U.S. small businesses that represented nearly $10 billion in funding from 2015 to 2017. The report used data from five online lenders, including OnDeck, Kabbage and Lendio, and was sponsored by the […]

View Post

GreenSky Lists on the Nasdaq

May 25, 2018
Article by:

GreenSky IPO

Yesterday, GreenSky announced its initial public offering of 38,000,000 shares of Class A common stock at $23.00 per share. The shares of common stock now trade on the NASDAQ under the symbol “GSKY” and are valued at $24.77, as of the close of trading today. GreenSky facilitates point-of-sale financing that enables over 12,000 merchants to […]

View Post

LendingPoint Secures Facility of up to $600 Million

May 17, 2018
Article by:

Mark Lorimer LendingPoint

LendingPoint announced today that it has closed on a credit facility for up to $600 million, arranged by Guggenheim Securities. The direct consumer lender secured a facility in September 2017 for $500 million, bringing its recent combined credit facility to $1.1 billion, in just nine months. LendingPoint Chief Marketing Officer Mark Lorimer told deBanked that […]

View Post

Prosper Loan Sales Highly Dependent on One Big Buyer

May 16, 2018
Article by:

Prosper Marketplace

Forty-five percent of all loans originated by Prosper Marketplace in the first quarter of 2018 were sold to a single buyer, according to their latest earnings statement. The single largest buyer over the same period last year had only purchased 33% of their loans. Last year, Prosper announced that they had closed a deal with […]

View Post

Online Lender Turns to Bachelorette Star to Promote Loans

April 26, 2018
Article by:

JoJo Fletcher, Marcus by Goldman Sachs

Will you accept this rose…err..loan? Joelle “JoJo” Fletcher has come a long way since her 2016 season on The Bachelorette where she found love with Jordan Rodgers, the younger brother of Green Bay Packers quarterback Aaron Rodgers. The couple is still together and JoJo is now a spokesperson for Marcus, the online consumer lending arm […]

View Post

FTC Sues Lending Club

April 25, 2018
Article by:

Scott Sanborn, Lending Club CEO

Above: Lending Club CEO Scott Sanborn speaks at LendIt Fintech 3 weeks ago in San Francisco Today, the Federal Trade Commission (FTC) filed a 30 page lawsuit against Lending Club, primarily for using language in its marketing that misleads consumers. There were also charges against Lending Club that it has made unauthorized withdrawals from consumer […]

View Post

Mad Over Madden

March 15, 2018
Article by:

disagreement

This story will appear in deBanked’s Mar/Apr 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE In a dispute that reflects the nation’s rigid political polarization, a piece of legislation pending before Congress either corrects a judicial error or condones “predatory lending.” It depends upon whom one asks. Either way, the proposed law could […]

View Post

A Dialogue with Peter Renton: Cryptocurrency and Beyond

March 2, 2018
Article by:

Peter Renton, Chairman and Co-Founder
LendIt,  speaking to LendIt USA 2016 conference in San Francisco, California, USA on April 11, 2016. (photo by Gabe Palacio)

This story appeared in deBanked’s Jan/Feb 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE Peter Renton, Chairman and Co-Founder, LendIt, speaking to LendIt USA 2016 conference in San Francisco, California, USA on April 11, 2016. (photo by Gabe Palacio) deBanked Magazine recently caught up with Peter Renton, founder of Lend Academy, a leading […]

View Post

Minority-Owned Businesses Present Opportunities for Online Lenders

February 27, 2018
Article by:

group

This story appeared in deBanked’s Jan/Feb 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE Research consistently shows that minority-owned businesses have a harder time accessing capital than other businesses. Online financing has the potential to change this. Most of the online funding process is based on objective factors such as your business type […]

View Post

Lending Club Stock Price Hits Record Low

February 27, 2018
Article by:

ondeck and lending club

Lending Club’s stock dropped to its lowest level on Monday, closing at $3.27, according to the online lending tracker. That puts the company down 78% from its IPO price of $15 and down 87% from its all-time high. Since going public, the company has been mired in litigation, losses, and scandal. The company has also […]

View Post