As inflation rises and recession looms, consumers are anxious about their finances. With 48% of consumers less likely to take out a loan since interest rates have increased, banks must provide an enhanced lending experience to stay competitive. Borrowers want a faster and more convenient...
Prism has added origination services to its lending platform tailored to startup tech companies and employees. The company aims to help employees at startups access the equity that is locked up in private United States tech companies and has traditionally been inaccessible before an initial...
New rules released by the Consumer Financial Protection Bureau on Thursday will change small business lending. And for the lenders — banks and non-banks — there’s a change ahead, too, in the broadening of the data they’ll need to collect as they decide who gets...
Novo is conducting a pilot of a working capital program designed for small business owners. Over the last six months, the pilot program by the financial platform for small businesses has originated more than $20 million in merchant cash advances, worked with 3,000 customers and...
Silicon Valley Bank began giving more loans to insiders after regulators identified some bank weaknesses. As Fed examiners saw that Silicon Valley Bank needed to better track interest rate risks late last year, the bank’s loans to officers, directors, principal shareholders and their related interests...
Tink has joined forces with Italian FinTech ConTe.it Prestiti to streamline loan applications. According to a Tuesday (March 21) news release, ConTe.it Prestiti has embedded the Tink — an open banking platform — “Income Check” tool into its offering to provide more accurate affordability assessments....
The push to pursue four-year college degrees for white-collar jobs, which kicked into high gear in the 1980s, has left America 40 years later with a steep shortage of skilled workers who can weld, drive a semi, fix HVAC systems, and perform jobs that have...
Gibraltar Business Capital (GBC) has launched an equipment financing business. The new Gibraltar Equipment Finance (GEF) will provide equipment loans and leases of up to $20 million for industries like manufacturing, distribution, transportation/logistics, healthcare, food and beverage, construction, telecom and technology-related sectors, Gibraltar Business Capital...
Business-focused hotels that survived the pandemic shutdowns are now facing other challenges. Difficulty accessing credit is among the problems they are coping with today, The Wall Street Journal (WSJ) reported Monday (March 6). Lenders are asking hotel owners to put up more capital because they...
