During the week I share the latest marketplace lending news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.
Citigroup quietly launches small business lending website from Reuters – Another significant bank partnership is announced. This one between Citi and Biz2Credit for small business loans.
How this bank keeps small-business clients away from online lenders from American Banker – Here is a bank that has created their own online lending platform to rival Kabbage and OnDeck.
Weekly Industry Update: January 29, 2017 from PeerIQ – This week PeerIQ analyzes the latest SoFi unsecured consumer loan securitization.
Peer-to-peer lender Zopa passes £2 billion loans milestone from Business Insider – In the UK Zopa becomes the first p2p lending platform to cross £2B in total loans issued.
U.S. bank trade group seeks marketplace lending partnership from Reuters – In the latest sign of bank interest in marketplace lending the American Bankers Association is seeking a partnership.
Accessing Peer-To-Peer Loans For Alternative Income from RIA Channel – Video interview with Allen Webb of RiverNorth talking about their marketplace lending fund.
Online Lender SoFi Buys Digital-Banking Startup from The Wall Street Journal – This is a big deal. SoFi will very soon be offering bank accounts to their members.
After Letting Go a Third of Its Staff, Avant Says It’s Ready for Growth Again from ChicagoInno – After a rough 2016 Avant may have turned the corner – it is now hiring more people again.
Goldman CIO touts new consumer lending business as ‘fintech startup’ from TechTarget – Technology is at the heart of Marcus, the Goldman Sachs online lending platform, says their CIO.
International P2P Lending Volumes January 2017 from P2P-Banking – The P2P-Banking monthly loan volumes are out and Funding Circle is the largest online lender once again.
Change at Prosper as Online Lender Selects Usama Ashraf as New CFO from Crowdfund Insider – Prosper hires a finance industry veteran as their new CFO.
Credibility Capital Deploys Orchard’s Technology to Improve Capital Market Operations from Globe Newswire – While there is no secondary market for marketplace lending Orchard is facilitating some transactions.
OnDeck’s COO Announces Resignation Prior to Q4 Earnings from deBanked – The OnDeck COO, James Hobson, announced he is leaving the company on March 15.
What’s Wrong with Crowdfunding? from CFO – Equity crowdfunding has not been the big success that many people expected.
Record month for consumer focused peer-to-peer lenders from AltFi – In the UK the consumer P2P lending platforms such as Zopa have started off the year well.
From the Lend Academy Forum
The Lend Academy forum is where investors go to discuss p2p lending. Below are some topics that were being discussed this week.
My 2016 Consolidated 1099 Package was available 28-Jan-2016 – Lending Club has sent 2016 tax forms. Investors discuss tax implications and importing data into TurboTax.
Question about Debt to Income – An investor asks what is included in debt to income ratios reported by Lending Club and Prosper.
Fundrise – The forum discusses returns on Fundrise, the tax implications and the recent reg A+ offering to invest in the company itself.
Worst Month Yet – Investors discuss January loan performance.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.