The Innovative Lending Platform Association and the Coalition for Responsible Business Finance announced Monday that they are joining forces.
After recording a $35.9 million quarterly loss, the online small-business lender said that it plans to reduce its annual expenses by $20 million, cut 11% of its staff and more than double its loan-loss provision from a year earlier.
James Hobson is resigning to become the CEO of Attune, a new company in the commercial insurance sector.
