The Bank of England (BoE) is excluding many businesses from its short-term loans for coronavirus-related relief, critics say, by including restrictions based on credit ratings and short-term commercial paper use, according the Financial Times. Get the Full Story Complete the form to unlock this article...
Congresswoman Maxine Waters, chairwoman of the House Committee on Financial Services, wants to stop any new Industrial Loan Company (ILC) charters until further notice, citing concerns about outdated rules. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
Consumer advocates are pushing federal banking regulators to do something about rent-a-banks with notoriously sky-high loan rates that prey on people with bad credit, the Wall Street Journal (WSJ) reported on Wednesday (March 11). Get the Full Story Complete the form to unlock this article...
Unsecured lending is the theme of this week’s PYMNTS Provider Ranking of Personal Loan Apps, which looks at this fascinating space with fresh eyes to reveal the trends. Personal loans have a million uses, but they’ve long been popular for consolidating high-interest debt at lower...
Patreon, known for its platform for content creators to earn money from fans, will be entering the micro-loan business, according to reports. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
In the platform economy, scale matters. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you agree to...
In the wake of the Great Recession, small businesses found it difficult to secure loans via banks – and even when they were available, the common complaint was that the application process was slow, time-consuming, paper-intensive and ill-suited to the needs of small businesses. Get...
Sezzle — a “buy now, pay later” (BNPL) company based in Minnesota, but listed in Australia — was denied a crucial lending license from California. Rival BNPL company Afterpay’s application was approved by the state. Get the Full Story Complete the form to unlock this...
As banks continue to shy away from providing small business loans, many small and medium-sized business (SMB) owners have turned to online lending companies to fill the gap. SMB digital loan applications increased 19 percent year over year, according to The Wall Street Journal. Get...
