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Online Lending

·Nov. 1, 2016

CEO of Earnest Speaks with Jim Cramer on Mad Money

Louis Beryl, CEO of marketplace lender, Earnest, speaks with Jim Cramer about the firm's credit evaluation process; Cramer discusses Earnest's lending specialization which focuses on student loan refinancing but also includes personal loans; Beryl primarily talks about Earnest's edge in credit underwriting which considers a borrower's full financial profile including additional details on assets and bank accounts; this is facilitated by direct connection to online banking accounts; Beryl says Earnest has passed the $1 billion lending mark with $300 million saved for clients using the company's online lending technology. Source

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News Roundup Online Lending USA

·Aug. 7, 2017

OnDeck Capital Reports Second Quarter Results

OnDeck Capital beat earnings estimates and missed revenue estimates for the second quarter; revenue was $86.85 million, increasing 25% from the comparable quarter; earnings per share were $0.02, increasing from -$0.20 in the second quarter of 2016; loan originations decreased from $589.7 million in the second quarter of 2016 to $464.4 million in the second quarter of 2017; company reported success in acceleration to profitability; expanded online lending partnership with JPMorgan for up to four years; deBanked provides their perspective on the earnings release. Source

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Europe News Roundup Online Lending

·Jan. 26, 2017

Zopa Cuts Investor Rates for Third Time Since September

The UK's oldest and biggest online lender will be cutting rates by 0.2% across all accounts for the third time in the last five months; Chief Product Officer Andrew Lawson told investors via email that since competitors have been cutting rates they also needed to continue their rate cuts and they could also see this trend continuing; left with a choice of cutting rates or lending to a risky borrower, Zopa opted to cut rates and keep their lending practices static. Source

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Asia/Pac News Roundup Online Lending

·Mar. 16, 2017

Yirendai Reports Earnings Results for the Fourth Quarter and Full Year of 2016

Yirendai, an affiliate of CreditEase, is the only Chinese online lender publicly traded on a US exchange; its stock price closed at $29.29 prior to the company's earnings announcement after the closing bell on March 15; year-to-date the stock is up 41.36%; the earnings results showed revenue of $154.3 million for the fourth quarter, beating estimates by $19.38 million and increasing 137% from the comparable quarter; revenue for the year was $466.4 million an increase from $190.1 million in 2015; earnings per share for the fourth quarter were $0.91, beating estimates by $0.58 and increasing 287% from the comparable quarter; earnings per share for the year were $2.72 an increase from $0.79. Source

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News Roundup Online Lending USA

·Jan. 19, 2017

OnDeck Partners with Wex for Credit Financing

OnDeck has announced a new partnership with Wex that will provide credit financing options for Wex's customers; Wex currently provides payment solutions and credit services for corporations and small businesses; the partnership will offer OnDeck's loans of up to $500,000 and credit lines of up to $100,000 for Wex's customers. Source

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Europe News Roundup Online Lending

·Nov. 28, 2016

Ranger Direct Lending Fund Plans for More Share Issuances

The Ranger Direct Lending Fund has reported plans for share issuance totaling 200 million British pounds through 2017; the Fund currently has a 40 million British pound issuance planned for December; it also raised 30 million British pounds in July and 23.2 million British pounds in November of 2016; according to a statement from Ranger Direct Lending, "The company believes that debt instruments originated or issued by direct lending platforms are an attractive and growing asset class that have the potential to provide higher returns for investors than other, more widely available, fixed income products."; growth from the asset class and potential returns are factors driving the new issuances. Source

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News Roundup Online Lending

·Jan. 31, 2017

BNP Paribas Notes Potential for Alternative Credit Investments

Stéphane Blanchoz from BNP Paribas says market factors should help increase investment in alternative credit and specifically non-bank lending; bank disintermediation, regulatory support from policymakers, volatile fixed income markets, a low interest rate environment, and significant differentiation between fixed income and equity returns are all near-term factors increasing investment interest in non-bank lending investments; Blanchoz expects these factors to attract both retail and institutional investors with SME credit investments emerging as a leading investment. Source

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News Roundup Online Lending USA

·Dec. 27, 2016

Parasail Health Offering Healthcare Loans

Parasail Health has built a lending platform to support loans for healthcare expenses; firm has partnered with healthcare companies to provide alternative payment options for healthcare needs; Parasail currently has contracts with over 700 providers and has built integration capabilities for approximately 15 channel partners; offers loans and simplified payment processing for a range of healthcare expenses. Source

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News Roundup Online Lending USA

·Apr. 5, 2017

Lantern Credit Appoints New Board of Advisors Chairman

Lantern Credit has appointed John Mack as its new chairman of its board of advisors; the company works to provide credit solutions for inefficiencies through its technology platform; Mack brings experience from roles as chairman and CEO of Morgan Stanley, co-CEO of Credit Suisse Group, CEO of Credit Suisse First Boston and various other roles on corporate boards including Lending Club. Source

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Europe News Roundup Online Lending Real Estate

·Aug. 11, 2017

Landbay Adds Positive Lending to Its Distribution Network

Landbay will add Positive Lending to its distribution network; Landbay has a comprehensive suite of services for its intermediaries and is also supporting them in advance of the UK's September PRA portfolio landlord changes; Landbay is a UK specialist buy to let mortgage lender authorized by the FCA and involved with the P2PFA as one of its members. Source

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