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Online Lending

·Feb. 1, 2017

Video of the Week: RiverNorth’s Marketplace Lending Fund

Allen Webb of RiverNorth talks about the firm's marketplace lending fund; gives an overview of the portfolio selection criteria; talks about the fund's structure and some of the liquidity challenges presented by marketplace loans; says the firm is planning future webinars to educate investors on the fixed income investment.

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News Roundup North America Online Lending

·Aug. 3, 2017

Lending Loop Raises $2mn and Launches Auto-Lend

The marketplace lending platform has facilitated over $7 million dollars in financing to small businesses in Canada; it currently has over 9,500 investors; Auto-Lend will allow investors to automate investing on the platform through pre-set or customized strategies. Source

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News Roundup Online Lending

·Oct. 28, 2016

China’s Shadow Banking Business Continues to Grow

Shadow banking in China increased to 58 trillion yuan which is more than 80% of GDP, according to a report from Moody's; total social financing has now risen to an estimated 220% of GDP; Moody's says light regulation in the nonbank sector is a concern and the new regulations proposed by the government are needed to help manage risk and keep the business from causing major liquidity problems for the broad market. Source

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News Roundup Online Lending USA

·Aug. 16, 2017

Credible Announces Alan Gellman as Its Chief Marketing Officer

Gellman is the firm's first chief marketing officer; he joins the firm from Esurance and also has experience at Wells Fargo; Credible is a personal finance marketplace that provides offers for student loans and personal loans; in July it also announced a credit card marketplace; Gellman will help the platform expand its business and continue to focus on supporting its customers. Source

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News Roundup Online Lending

·Feb. 1, 2017

Credibility Capital Releases Announcement on MPL Loan Investment Facilitated by Orchard

Credibility Capital has completed a sale of a pool of whole loans to a regional bank; details of the loan portfolio and regional bank were not included; according to Brett Baris, chief executive officer of Credibility Capital: "Orchard provided a seamless software solution that improved the process for both sides of the transaction. With Orchard's new tool we were able to easily share vast amounts of loan data with our client on a single, easy-to-use platform." Source

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News Roundup Online Lending

·Feb. 8, 2017

Biz2Credit Reports January Small Business Approval Rates

The Biz2Credit Small Business Lending Index shows another increase in small business approval rates at traditional banks in January with big banks approving a new high of 24% of small business loans; Biz2Credit CEO Rohit Arora attributes the increase to optimism over the Trump administration's regulatory initiatives for financial services; loan approval rates at small banks were basically unchanged at 48.9%; the loan approval rate for institutional lenders remained at 63.4%; loan approval rates at credit unions decreased to 40.8%; loan approval rates decreased for alternative lenders, with the average approval rate at 58.5%. Source

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Europe News Roundup Online Lending

·Apr. 3, 2017

Nordic Platform EstateGuru Launches in Lithuania

Company has closed their first investment in Lithuania last month; other countries of operation include Estonia and Latvia; CEO and Co-Founder Marek Partel stated: "Lithuanians are the third biggest community of investors at EstateGuru and now they have the chance to invest into loans closer to them and our international investor base have even more options for diversification. The burgeoning Lithuanian real estate market is stable and mature while small and medium sized businesses are still often underserved by the banking sector like in many other European countries. With businesses already familiar with the concept of P2P lending and have been utilizing this option for some time, this represents a ripe opportunity for EstateGuru to join." Source

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News Roundup Online Lending

·Aug. 15, 2017

Q2 2017’s Top Marketplace Lending Deals

Fintech Global provides the top ten deals for the quarter; financing from the top ten deals was $658 million and accounted for 84% of the sector's total financing; Chinese P2P lender Tuandaiwang was the quarter's financing leader obtaining $262.6 million and was the only Asian fintech company in the top ten; Europe reported the majority of top ten financings with five funding deals. Source

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Europe News Roundup Online Lending

·Feb. 7, 2017

Credit Peers Launches in the UK for Property Lending

New marketplace lending real estate platform Credit Peers has launched for investors with a minimum investment of 500 British pounds ($618.64); the firm is offering individual investors the opportunity to invest in commercial real estate properties; the platform elicits borrowers for commercial properties including multi-residential, office and retail buildings; it plans to focus on connecting individuals with investments in the commercial property market. Source

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Fintech News Roundup Online Lending

·Mar. 8, 2017

Data Aggregation Services Providing for Enhanced Credit Underwriting Models

Data aggregators of all types are gaining more traction and investment; Finicity is one example with investment from Experian; Nick Thomas of Finicity characterizes the credit-decisioning space as a new frontier for data aggregation; with this new frontier available for investment, the industry is likely to see success in integrating new sources of data and faster technology solutions for credit modeling and approvals. Source

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