Marketplace lending

OnDeck Capital in high-stakes talks with creditors


With credit quality suffering due to the coronavirus outbreak, the online business lender faces onerous loan repayments if it can't renegotiate a corporate debt facility.


Societal upheaval strengthens case to expand CRA to nonbanks: Ludwig


Former Comptroller of the Currency Gene Ludwig says making online lenders, credit unions and other nonbanks comply with the Community Reinvestment Act would be a powerful tool in addressing racial and economic injustices.


Santander Group invests $40M in consumer lender Upgrade


Other challenger banks focused on personal loans have struggled since the onset of the coronavirus pandemic.


Kabbage lets Uber drivers apply for PPP loans from their phones


The online lender quickly built an app for ride-share drivers with much of their information already filled in.


How coronavirus pivot helped this British fintech land PNC


The challenger bank OakNorth has been peddling its lending platform to U.S. banks for a year. When it saw COVID-19 on the horizon, it retooled to include a ratings system predicting how borrowers will be affected by the pandemic.


OCC finishes rule meant to sidestep 'Madden' ruling


The new regulation is intended as a workaround for banks affected by the 2015 decision that created legal uncertainty for loans sold across state lines.


Battered by coronavirus crisis, online lenders face reckoning


The upstarts enjoyed rapid growth during the long economic expansion. Now they are on the ropes.


OnDeck sharply curtails lending as delinquencies mount


The online lender reported a hefty first-quarter loss on Thursday and said that a whopping 45% of its small-business loans are past due.


Funneling PPP money to the smallest businesses: A fintech exec's plan


John Pitts, policy lead for Plaid, has some ideas to ensure Paycheck Protection Program legislation set to be voted on this week targets the companies most in need of a cash infusion.


White House, Democrats close in on PPP deal; are small fries getting edged out?


The two sides say a deal to replenish the small business loan program may be reached for a Senate vote early this week; big restaurant chains said to edge out small firms for loans.