If asked where to get a small business loan most people would state their local banks or even some of the bigger traditional...
Barron’s reports that online small business lender Kabbage is shopping for buyers and could fetch more than $1bn; the potential...
The largest online small business lender in the US is now PayPal having done $4 billion in loans in 2018;...
Crowdfund Insider sat down with Karen Mills at LendIt Europe 2017; Mills is a Senior Fellow at the Harvard Business School and was previously head of the US Small Business Administration; she believes we are between two phases in the market: the banks waking up and the platforms arriving, including Alibaba, Amazon, Square etc. Source
Fintech lenders are hoping their participation in the Paycheck Protection Program will lead to working with the Small Business Administration...
Kabbage is an online lender in the small business space; today they announced they would not fund “any business that we identify as a seller of firearms or ammunition to individuals under 21 or that sell or manufacture any form of assualt-style weapon.”; according to a written statement signed by the executives, “As parents and leaders of Kabbage we simply cannot imagine the grief of families who too often have been stricken by gun violence like the tragedy in Parkland, Florida. The technology community must work to prevent these horrifying and heartbreaking events from robbing our children of their future.”; Kabbage is also supporting the Parkland survivors’ March 14 walkout and also announced charitable contributions. Source
With community banks pulling back on lending to small businesses vertical software platforms are filling the void. They provide software, of course, but are increasingly also providing access to capital.
Funding Circle’s latest securitization is their second securitization of US loans; The $252 million securitization (Small Business Lending Trust 2020-A...
UK based online SMB lender OakNorth said they nearly doubled profits to £65.9mn in 2019; the news was dampened a...
The alternative lender has now received authorization from the British Business Bank to provide loans under the Coronavirus Business Interruption...