Several states in the US are considering new bills relating to commercial financing and small business lending, including Missouri's Commercial Financing Disclosure Law and Illinois's Small Business Truth in Lending Act. Other states evaluating similar legislation include North Carolina, Kansas, New Jersey, California, and New York. Read more
Prosper Marketplace reported a 53% decrease in loan originations in Q3 2023, compared to the same period last year, citing a reduction in investor desire for whole loan purchases in the current economic climate. Additionally, the online consumer lending company reported a net loss of $93M for the first three quarters of 2023. Read more
Northteq, Inc. has announced new features and enhancements in its latest product release, including expanded product and pricing offerings, vendor and partner portal advancements, and improvements in partner apps and integrations. The company, a leading provider of Salesforce loan origination solutions, aims to use the update to improve equipment finance lending and plans to release more enhancements throughout the year. Read more
