As banks — especially larger players — grapple with a new capital reality, the opportunity may be there for smaller financial institutions (FIs) and FinTechs to capture some lending share, especially among small businesses. Bloomberg noted on Wednesday (July 26) that some of the biggest...
Cash flow management company Settle has secured a $145 million credit facility with Silicon Valley Bank. The financing, announced in a news release Tuesday (July 25), will let Settle develop its lending products for larger eCommerce and consumer brands. “Approximately 80 percent of small businesses fail because of cash-flow issues,”...
Citi says it wants to help its commercial banking clients meet their working capital needs. The banking giant on Wednesday (July 19) announced the launch of its trade and working capital eLoans solution for commercial clients in the U.S., designed to help clients meet their...
Experian has expanded its real-time income and employment verification offering. The enhancement enables consumers to provide permissioned access to their payroll accounts and share information directly from their employers’ payroll service, the global information services company said in a Wednesday (July 19) press release. “With...
FinTech Earnest has teamed with Nova Credit to offer private student loans for international students. The partnership, announced Monday (July 17), is happening at a time when foreign-born students make up nearly 5% of the student population at U.S. colleges and universities, the two companies said in a news release. “Beyond...
The Biden-Harris Administration is providing more than $116.6 billion in student loan forgiveness to 3.4 million borrowers. The Department of Education will begin notifying 804,000 of those borrowers that $39 billion of that debt will be automatically discharged in the following weeks, the department said in a...
Goldman Sachs has reportedly completed a $1 billion loan sale to the investment firm Varde as part of its plans to exit from its Marcus consumer loan business. Varde bought the loans from Goldman at a price that was labeled as a discount to face value, Bloomberg reported Thursday (July 13), citing...
Today’s middle-market companies are tomorrow’s investment-grade companies. But as Alan Koenigsberg, senior vice president and global head of large, middle market, treasury and working capital solutions at Visa, told Karen Webster, when it comes to giving them the tech-enabled tools they need to blossom and scale, “the...
Flipkart has partnered with Axis Bank to launch a digitally enabled personal loan offering. With this personal loan offering, the Indian eCommerce marketplace’s customers can get loan approval on Flipkart within 30 seconds and flexible repayment cycles ranging from six months to 36 months, the companies said in...