Goldman Sachs now a competitor

[platformlending]

What is everyone's take on the imminent arrival of Goldman Sachs? They announced they'd start competing in the small biz lending space in 2016: http://www.nytimes.com/2015/06/16/business/dealbook/goldman-to-move-into-online-consumer-lending.html?_r=0

[mlrb inc]

okay but what kind of loans are they going to offer? Can you imagine Goldman Sachs making a $15,000 small business loan to a restaurant???!?!

[sean bash]

okay but what kind of loans are they going to offer? Can you imagine Goldman Sachs making a $15,000 small business loan to a restaurant???!?!

Maybe they envision a $2 million loan size minimum or something. It does seem kind of unimaginable.

[Loans]

It sounds more like consumer lending than business lending based on the read. Similiar to lending clubs consumer lending platform. The market for consumer lending is much larger than small business lending. But maybe later on they cross over like lending club did to smb lending-

Notice they stated te consumer lending market is. $840billion market opportunity.

[Chambo]

okay but what kind of loans are they going to offer? Can you imagine Goldman Sachs making a $15,000 small business loan to a restaurant???!?!

$15K - $30K is EXACTLY what they are targeting.

there was an article about it in the NY Times

[Chambo]

It sounds more like consumer lending than business lending based on the read. Similiar to lending clubs consumer lending platform. The market for consumer lending is much larger than small business lending. But maybe later on they cross over like lending club did to smb lending-

Notice they stated te consumer lending market is. $840billion market opportunity.

Consumer AND Small Business

[stktrader]

I am more interested in some of the names that I didn't know much about on this funding list http://debanked.com/2015/06/the-offi...g-leaderboard/

yellow stone capital has done more than a billion dollars ??? and merchant cash & apital is bigger than rapidadvance. I just assumed that since rapid got bought by dan gilbert, they were bigger. Are there any other names that should've made this list that weren't on there? I see the disclaimer that some companies didn't want their numbers public. on deck capital appears to be ain a very crowded boat.

[sean bash]

I am more interested in some of the names that I didn't know much about on this funding list http://debanked.com/2015/06/the-offi...g-leaderboard/

yellow stone capital has done more than a billion dollars ??? and merchant cash & apital is bigger than rapidadvance. I just assumed that since rapid got bought by dan gilbert, they were bigger. Are there any other names that should've made this list that weren't on there? I see the disclaimer that some companies didn't want their numbers public. on deck capital appears to be ain a very crowded boat.

Another one just got added, The Business Backer's lifetime funding numbers. I think you'd be surprised to learn how big the industry really is.

[mayi]

wasn't swift capital going around like 2 years ago saying they funded $100 mil?

[Loans]

Are funding circles reported numbers for both consumer lending in the UK and the recent start of business lending in the US? They only recently started in the US after the acquisition of endurance

[sean bash]

yes it includes both uk and us

[fintechjunkie]

Broad view of the installment lending ecosystem in this white paper: http://wp.me/p60NAx-i . I'm hoping to pull one together on the SMB lending ecosystem by the Money2020 Conference later this year. It should be an interesting story about CAN, OnDeck, Lending Club, Funding Circle, traditional Banks, portals, etc.