Peer-to-peer car-sharing platform Getaround Inc. has secured a $25 million venture loan facility from Horizon Technology Finance Corp., a specialty finance company that provides secured loans to venture capital-backed companies. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
The number of troubled loans sitting on the books of the top U.S. banks remains high despite significant improvement over the past few months, a new report finds. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
The chair of a new European banking authority is warning lenders to prepare for an onslaught of bad loans due to the second wave of COVID-19 lockdowns, the Financial Times reported on Wednesday (Nov. 11). Get the Full Story Complete the form to unlock this article...
The use of artificial intelligence (AI) and machine learning (ML) isn’t some futuristic idea. It’s here now and being used to make good banks better — whether to eliminate discrimination in lending decisions, add stability to existing screening systems or drive loan growth and profits....
In the third quarter, banks tightened their loan standards to firms of any size and also saw weaker demand than usual, according to the Federal Reserve’s October 2020 Senior Loan Officer Opinion Survey on Bank Lending Practices. Get the Full Story Complete the form to...
Amid the pandemic, a ceiling on payday loans extends … state by state. 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....
With new lockdown restrictions due to COVID-19 imminent, the U.K.’s Financial Conduct Authority (FCA) has extended loan holidays for those who still can’t pay off loans or make mortgage payments due to the pandemic’s economic effects, a pair of press releases stated. Get the Full...
The Federal Reserve Board has modified the terms of the Main Street Lending Program (MSLP) to make it more obtainable for smaller businesses, according to a Fed statement on Friday (Oct. 30). Get the Full Story Complete the form to unlock this article and enjoy...
Google Cloud is aiming to innovate the mortgage industry with its new artificial intelligence (AI) tool called Lending DocAI. 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...
