Stripe, the digital payments startup, is reportedly testing a new cash advance service for its business customers. 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...
To help manage their student loan debts, 28,000 borrowers have sent in 33,300 applications for the Public Service Loan Forgiveness (PSLF) program. However, approximately 99 percent of 29,000 applications that have been processed were denied, and only around $5.52 million of debt has been discharged...
Peer-to-peer (P2P) lending in China is not for the faint of heart — and that’s putting it lightly. Banks offer credit limits to borrowers that would seem punitively low in much of the Western world, so there is a pent-up demand for online alternatives. However,...
Turkey’s central bank announced effective in October it is raising the maximum interest rate credit card lenders can charge. 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...
New data shows that community banks lending to small businesses has increased in recent years. The U.S. Government Accountability Office (GAO) analyzed community bank lending and financial data from 2001 through 2017, as well as surveyed a sample of over 450 community banks from around the country....
Wonga, the U.K.-based payday lender, has halted accepting new loan applications. 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...
When Renaud Laplanche launched hist latest lending start up, Upgrade, the venture was both quite similar to and yet quite different from his previous endeavor, LendingClub, the platform that made “marketplace lending” a household phrase in the U.S. Get the Full Story Complete the form...
When Renaud Laplanche founded LendingClub 12 years ago in 2006, the lending landscape was a very different place. Most consumer and business lending was done through traditional banks, and to say that peer-to-peer (P2P) or marketplace lending was nascent would be overly generous. Get the Full...
Student loan refinancing company Social Finance (SoFi) is looking for a loan of its own: The company is in talks with banks to secure a revolving credit line of as much as $1 billion after posting a second-quarter loss. Get the Full Story Complete the...
