Main Street businesses represent the backbone of both the American economy and their local communities. And with the news on Tuesday (April 16) that Rapid Finance has teamed up with Galileo Financial Technologies on a small business financing solution, small business lending is top of mind for financial...
Wall Street banks are reporting gaining back some of the share of financing deals they had lost to alternative-asset fund managers, insurers and other private credit. The broadly syndicated loan market dominated by banks refinanced almost $12 billion of debt previously from direct lenders in the first...
The White House has unveiled its latest effort to offer relief to student loan borrowers. The plan, President Joe Biden announced Monday (April 8), targets borrowers who owe more now than when they started repayments due to interest, those who entered repayment 20 or more years ago,...
The Consumer Financial Protection Bureau detailed in its 2023 Consumer Response Annual Report that consumers have been the targets of fraudulent account openings, and installment loans were the most cited type of personal lending in complaints. The report, released Friday (March 29), noted that complaints...
Intuit QuickBooks has added a line of credit offering to the small business lending options available through its platform. The new QuickBooks Line of Credit enables small businesses to access funding from $1,000 to $50,000 and tap into the funding when and how they need...
Brazilian FinTech firms are reportedly grappling with a surge in loan defaults, leading to a crisis in the asset-backed credit market. The delinquency rates on unsecured loans offered by companies like Open Co, Nexoos and Gyra+ have exceeded 60%, prompting measures such as mergers, downsizing...
The White House is canceling nearly $6 billion in student loans for public service workers. The cancellation, announced Thursday (March 21), applies to 78,000 teachers, nurses, firefighters and other public sector employees. “These public service workers have dedicated their careers to serving their communities, but because of past administrative...
Banks — the stalwarts of traditional lending — are finding new channels and conduits to getting capital to borrowers, across alternative channels, and with FinTech collaborations forged and expanded. Alternative lending (or alt-lending) gets funding, typically short-term in nature, to borrowers, with one particular ready-made...
AffiniPay has announced that its fee lending solution for the legal industry, Pay Later, has processed over $125 million in legal fees since its launch in April 2022. Pay Later, which is a pay-over-time product designed specifically for the legal industry, has also been used...
