Bond Street, a small business lender is the latest company to announce a significant round of equity and debt financing....
Bond Street is partnering with NerdWallet to develop small business lending resources to educate small businesses on its loans; resources will include service from NerdWallet's Small Business Loan Tool as well as guides and webinars on marketplace lending and small business planning; with the partnership, Bond Street intends to more broadly market and service small business lenders with its loan offerings which range from $10,000 to $1 million. Source
Jefferies has renewed their loan purchase agreement with small business lender Bond Street; deal expands loan purchases to as much as $300 million building on a $100 million commitment from mid-2015; Bond Street has also expanded their term product and now will make loans from $10,000 to $1 million; previous loans were between $50,000 to $500,000; investors in the company include Spark Capital, Homebrew as well as the co-founder of Airbnb and David Chang, chef and owner of momofoku. Source
deBanked reports that Bond Street has stopped making new loans; seven months ago Bond Street announced a $300 million loan purchase agreement with Jefferies; the WSJ outlines that engineers, product developers, and risk and marketing specialists will join Goldman’s consumer bank; Square is allegedly also in talks with some Bond Street employees. Source