Hi folks,
LC says it offers business loans up to 300K but browsing the current notes being offered there are only 4 loans in the funding process that are small business loans and their amounts range from 15K (B1 grade) to 34K (F2 grade). I'm curious to know why there are so few business loans? Are there big business loans that LC does not make available to the investing platform? Any ideas?
Sergio
You are looking at consumer loans where the consumer checked the "small business" box.
The "small business loans" are not sent to the retail platform.
Thanks Fred, so this research paper by people at the FED last year seems to be about these consumer loans where the applicant check the small business box:
http://www.federalreserve.gov/pubs/feds/2014/201410/201410abs.htmlI would expect the FED to be more serious about the data they use...
Again, thanks for the info.
S.