Experian has added a new feature to its Experian Marketplace that is designed to help lenders complete more verification and affordability checks earlier in the underwriting process for loans and credit cards, the company said in a Wednesday (Sept. 16) press release. Experian Marketplace is...
Truist Financial, a top 10 commercial bank in the United States in terms of assets, disclosed Tuesday (Sept. 15) that it is selling $5.5 billion worth of auto loans and exiting the near-prime auto lending business. The loans represent substantially all assets of the bank’s...
Apollo Global Management is reportedly shuttering some parts of its Eliant Trade Finance platform. That’s according to a report Friday (Sept. 11) by Bloomberg News, which says the move comes after a difficult year for the previously hot inventory financing market. Eliant is winding down...
When a company sells goods to a buyer overseas, it often has to wait 30, 60 or 90 days to get paid. In the meantime, it needs cash to keep running. Banks have historically been reluctant to lend against that wait, especially for smaller companies,...
Federal Reserve Gov. Michael Barr is urging lenders to look beyond conventional credit histories when evaluating consumers and entrepreneurs with criminal records, pointing to cash-flow underwriting, alternative financial data and artificial intelligence (AI) as tools that could identify borrowers whose current finances are stronger than...
Fast-growing middle-market companies aren’t always losing opportunities because lenders said no. Many are losing them because available credit can’t move quickly enough to become useful. That gap sits at the center of “The Emerging Middle Market: When Credit for Fast-Growing Companies Isn’t Really ‘Credit,’” which...
Credit quality has long decided who gets funded and who doesn’t. Information quality is now drawing that same line in corporate borrowing and working capital. As private credit becomes a larger source of corporate capital, lenders can negotiate for something public investors generally cannot: recurring...
The next frontier in working capital management isn’t squeezing another day out of receivables or stretching another day of payables. It’s deciding whether those dollars should be financed the same way at all. Two companies can report identical working capital requirements while sitting on different...
A distributor can know what inventory it needs to order next week before its financing system knows that the purchase exists. That disconnect becomes more consequential as goods and logistics companies grow. Among businesses with $1 million to $25 million in annual revenue, 28% identify...