LiftForward has obtained a $100 million credit facility through funding from Monroe Capital; LiftForward is a New York City-based marketplace lender for manufacturers, distributors and retailers; the firm offers credit of up to $1 million per transaction; in addition to credit products the firm also offers its customers a platform to sell their products as a hardware as a service subscription. Source
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Online Lending
Marketplace lending originations have been increasing significantly in the US and China however in 2016 both countries saw a number of challenges influencing the market and increasing risk; Moody's analyzes market similarities and differences in the two countries; reports on the variance in lending model structuring; notes that US marketplace lenders are more deeply integrated with partner-bank relationships; while structuring and partnerships vary considerably between the two countries, there are similarities, including reliance on big data, lack of credit cycle testing and ongoing development of regulatory standards. Source