After five years plying the subprime lending sector, ZestFinance is finally moving into near-prime credit for debt consolidation. Known for its Big Data-driven loan underwriting for deep subprime customers, ZestFinance launched a near-prime personal loan product yesterday called Basix. This is just the company’s second direct loan product for consumers. Its first wasRead More
Post Tagged with: "alternative lender"
Small business lender OnDeck (NYSE: ONDK) announced the launch of a platform for institutional investors today. Properly speaking, the platform soft-launched a year ago, CFO Howard Katzenberg told Bank Innovation Tuesday, and a number of institutional investors — banks, insurance companies, hedge fund, mutual funds — have been piloting it. ButRead More
A new lender looking to rationalize borrowing for university expenses opened its doors yesterday. Called College Ave, the service is backed by Fenway Summer, the joint investment and advisory business that has backed such startups as alternative lender Prosper, virtual currency service Circle, and student loan management tool Tuition.io.