New Action Plans from the Leading Consumer Lenders

Millions of people have lost their jobs in the past two weeks which is having a tremendous impact on our economy; we reached out to several of the leading online consumer lenders to learn what actions they have taken amid the fallout from COVID-19; the questions we asked include: 

  1. What are you doing to help your existing borrowers?
  2. How are you changing their underwriting?
  3. How are you responding to increased loan demand?
  4. What is your message to investors?

Companies who responded include LendingClub, Marcus, Prosper, Avant, Opploans and Aura; it is apparent from these responses that the fintech community has responded extraordinarily quickly to the events; in addition applications are not increasing much and in some cases they are decreasing. Lend Academy

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