The biggest banks in the U.S. are making far fewer loans to small businesses than they did a decade ago, ceding market share to alternative lenders that charge significantly higher rates.
New findings reveal that £20bn could be lost through a lack of SME awareness around alternative finance.
Karen Mills talks about how alternative lenders and big data may change small-business borrowing
Lack of awareness amongst SMEs of alternative finance options is creating a potential economic hole of up to £20bn, according to the latest report released today by GLI Finance.
Today, we announced the re-launch of Orchard’s U.S. Consumer Marketplace Lending Index. Index data is now available to subscribers of the Bloomberg Professional service, and on Bloomberg.com under the symbol ORCHLEND:IND.
LendingClub is positioned to benefit from the leading consumer loan marketplace at a time when competition will increasingly find funding difficult.
The FDIC’s new requirements will substantially increase the costs imposed on banks that wish to purchase marketplace loans.
San Francisco startup Earnest just raised $75 million as it tries to become a bank for the digital age.