CommLoan has obtained $2.25 million in seed funding from Social Leverage and ViaWest Group; the firm is the first to offer an online marketplace for commercial mortgage borrowers; it makes loans directly to commercial mortgage borrowers and also uses a network of lending partners to match borrowers with lenders; the firm plans to use the funding for business development. Source
Fintechs PayPal and Intuit were the first two non-bank lenders to be approved to lend through the Small Business Association’s...
PYMNTS spoke with BMO Harris Bank COO Kyle Barnett about how they are using digital technologies to improve the experience...
Writing in Forbes, Brock Blake, the CEO of Lendio shares the good, bad and ugly of the Paycheck Protection Program;...
The Cash App is a consumer finance app owned by Square; the company opted to take a different approach to...
Chime, a 5-year-old digital banking startup, has passed 1 million customers and $4.5 billion in transaction volume. The San Francisco company markets itself...
Payday lender, Advance America, and its representative association, the Community Financial Services Association of America (CFSA), have filed a motion with the court to halt regulatory pressure on banks to end relationships with payday lenders; the motion follows the decision by U.S. Bancorp and four other banks to end their relationship with Advance America citing regulatory pressure as a factor; regulators say they have done nothing to pressure banks to end relationships with payday lenders; the court motion is part of an ongoing litigation process involved with a court case filed by Advance America and the CFSA in 2014. Source
iBuying quickly became one of the hottest terms in digital real estate over the last few years with firms like...
The small business lending approval rate from banks nationwide was 23.5% in October, while support from institutional lenders helped marketplace lending platforms to increase their small business approval rate to 63.1% nationwide, according to data from the Biz2Credit Small Business Lending Index; the economy also has been steadily improving with GDP and jobs increasing; however uncertainty over the election has affected the broad market which has seen nine of the past 10 days reporting losses in the stock market and another recently delayed rate increase from the Federal Reserve; following the election, consumers and businesses will be closely watching the affects on the economy and interest rates specifically as the country's new president influences credit markets, marketplace lending and fintech overall. Source