The movement by Lending Club to obtain financing in order to help shore up capital appears to be gaining traction. As reported by The Wall Street Journal, the beleaguered online lender has met with several large hedge funds, with discussions centering around a deal where those...
A testament to just how difficult and uncertain the Lending Club situation has been of late — a slight hiccup in the marketplace lender’s website last night caused some pretty big worries, as investors were suddenly concerned the end had come. One nervous investor tweeted...
Prosper Marketplace, the online lending company, may have changed its relationship with two prominent loan referral sites, according to sources cited by The Wall Street Journal. This comes during a time when relationships and funding issues between online lenders are facing tougher times, particularly in...
Well, one can say this much for Lending Club: For whatever difficulties it seems to have keeping paperwork straight and investors on its platform at present, it sure knows how to keep things interesting in payments and commerce. Going into the news today, the struggling...
Online lender OnDeck said on Tuesday (June 7) that it has expanded its Accountant Advisor Program. The firm said via press release that it has boosted its presence through increased hiring efforts that bring new footprints into Kentucky, Florida and Alabama. OnDeck stated that its...
“The most important number to keep in mind here is 12 million. A lot of numbers are getting thrown around in this debate, but 12 million is the one to watch because that is the number of Americans seeking small-dollar loans each year.” Around 12...
The drama surrounding online lenders — who they lend to, when, how and at what rates — continues. In the wake of disclosures last month that Lending Club handled some of its loans improperly and that Prosper, the second-largest lender, is exploring strategic options, New...
Alongside any story on retail in China comes a prefunctory statement on the rising spending power of the country’s nascent middle class. However, even if those consumers can’t seem to find their newly created wealth when they walk up to the checkout counter, Dumiao wants...
According to Pew Charitable Trusts, about 12 million Americans take out a payday loan each year. The typical loan is $375. Borrowers are usually employed full-time (thus the “payday” moniker), must have an active checking account and, by most accounts, would appear to be “middle class” or “working class,” according to Pew. But based...