Americans are quite happy to look at nonbank lenders for their borrowing needs, but that doesn’t necessarily mean they distrust banks. A recent J.D. Power survey of small business owners released some startling figures — startling to banks, that is. Most borrowers, specifically small-business borrowers, consider nonbank lending options for their financingRead More
Post Tagged with: "OnDeck"
American Express is taking a page from Square’s book and launching an online platform for small business loans of up to $750,000 — but its main target may be banks. The news came today via Bloomberg, which reported funds could be available as soon as two days after loan approval.Read More
OnDeck Capital Inc. is keeping up with its “hybrid” funding model to withstand the rockiness of marketplace lending, COO James Hobson said. In its latest earnings report, the lender said that only 15% of its originations were funded through marketplace lending, compared with 35% to 45% in the fourth quarter ofRead More
In the US alone, the unfulfilled small business lending market was estimated to have reached $96.5 billion in Q4 of 2015. That’s a lot of lending mouths going hungry, but also a big pie up for grabs by those smart enough to work out how to actually lend toRead More
You could have bought Priceline stock below $10 in 2001. For many years you had little to show for it. From then until 2008, you had some appreciation, but not much. Then the stock shot up above $1,000 (as of writing it is $1,261). Yes that is 100x return fromRead More
That’s what the industry needs: competing marketplace lending associations. Today, the three big names in marketplace lending (for now — more on that below) that were not in the just-launched Marketplace Lending Association have formed the Innovative Lending Platform Association. This is Funding Circle, Lending Club and Prosper Marketplace of the Marketplace LendingRead More