US Treasury issues online marketplace lending RFI
“The RFI seeks a broad range of information regarding:
♦ The business models and products offered by online lenders (“Online Lenders”) to small businesses and consumers;
♦ The potential for Online Lenders to expand access to credit to historically underserved market segments; and
♦ How the financial regulatory framework should evolve to support the safe growth of this industry.
Responses to the RFI are due by August 31, 2015.
Fundrise seeks to take a chunk out of Wall Street
The commercial real estate market is estimated to be 35 times the size of the consumer lending market, and Fundrise aims to take their share and then some. Learn more here.
Congress raises SBA loan guarantee cap
After hitting their limit, Congress has authorized the SBA to guarantee another $5.75 billion in loans to American SME’s. Ken Gaebler reports.
Small businesses still struggling to obtain financing
Even though many small businesses hope to generate higher revenue and profits, they are still constrained by a lack of access to financing. David Nilssen explores their options.
UK small biz group fears Basel proposals could hurt small biz lending
By raising the amount of capital banks are required to hold against certain loans, new Basel banking proposals could hurt small business, an industry group says. Read more here.
SoFi gets first AAA’s on student loan bonds
SoFi is on the verge of getting top ratings on student loan-backed securities for the first time. They are also in talks to raise $800 million in capital. Never a dull moment over there, writes Jody Shenn.
Harmoney exec leaves board continues as CEO
Neil Roberts, the founder and majority owner of New Zealand P2P Harmoney, has left the board but is staying as CEO. Learn more here.