The partnership will focus on Money360 providing pre-arranged financing options for eligible commercial properties listed for auction on the Ten-X platform; financing options on these properties will be transparently disclosed on the platform and Money360 will work with buyers to complete the underwriting, processing and closing of the loan; the partnership expands deal flow of commercial properties for Money360, which utilizes technology to enable commercial real estate loan transactions from $1 million to $20 million. Source
Money360 has reported another milestone in the nascent online lending commercial real estate market; the firm has originated $100 million in new commercial real estate loans in the past six months, doubling its total from August 2016; four recent loan closings for a total of $38 million helped the company reach its $200 million milestone; Money360 says it expects to exceed $500 million in loan transactions by the end of 2017. Source
Money360 is a marketplace lender for commercial real estate; in Q2 the company closed $143 million in loans making Q2 the company's largest quarter; to date the company has closed $350 million in loans and expects to surpass the $500 million mark by the end of the year; the press release provides further information about the deals closed. Source
After substantial growth in 2016, Money360 has expanded its team by adding two new divisions and directors; David Christensen will lead the Northwest region and Kenneth Wood will lead the Northeast region; in December the company reported a record month of lending with $35 million in loans; in the first few months of 2017 it expects to report cumulative lending of over $200 million. Source
Commercial real estate marketplace lending platform Money 360 originated loans of $35.6 million in December; the bridge loans ranged from $2.5 million to $12.5 million with durations between one and two years; according to Founder and CEO Evan Gentry, the firm expects momentum to continue in 2017 with performance from the platform a factor of increased demand from borrowers and investors for commercial real estate financing. Source
While coronavirus is causing turmoil throughout global markets and businesses there could be some unintended benefits; MoneyGram’s FastSend could find...
MoneyGram is testing XRP for reducing both the cost of transferring money and the settlement times; Both MoneyGram and XRP traded higher on the news; Ripple has signed on about 100 banks as customers, but is also targeting remittance companies; Ripple CEO Brad Garlinghouse also tweeted that three of the five largest money-transfer companies would begin to use XRP this year. Source
MoneyLion's senior vice president of marketing and product Tim Hong talks about the firm's marketing efforts and customer focus; says the firm was founded on advancements in machine learning and artificial intelligence that help it to broaden credit access for customers; also reports that its balance sheet lending helps it to better align with customers; the firm provides a range of credit services for its customers that goes beyond loans; its offerings include credit monitoring services and programs that educate customers while also building a relationship with them that can facilitate credit issuance in the future. Source
Forward-thinking MoneyLion has launched a comprehensive mobile banking service called RoarMoney, a nearly-no-fee bank and debit card experience powered by...
MoneyLion has raised $22.5 million in a Series A funding round led by Edison Partners; the company will use the funds to improve and expand its mobile application services; the mobile application currently provides customers with tools and advice for managing their finances; it also provides loans. Source