Fort Collins, CO, June 13, 2016 – Pawnee Leasing Corporation announced that it completed its business relocation to 3801 Automation Way in Fort Collins, Colorado. “After 12 years at Centre Avenue, Pawnee Leasing Corporation moved on June 10. Our stand alone facility has been a fantastic home for Pawnee, but we finally ran out of […]
Companies facing a cash-flow squeeze and slow-paying customers often sell their invoices or accounts receivable to specialized companies called factors. The factor advances most of the invoice amount — usually 70% to 90% — after checking out the credit-worthiness of the billed customer. When the bill is paid, the factor remits the balance, minus a […]
NEW YORK, June 6, 2016 /PRNewswire/ — OnDeck® (ONDK), the leader in online lending for small business, announced today that Daniel S. Henson was elected to its Board of Directors effective June 2, 2016. Mr. Henson brings nearly 30 years of experience from General Electric Company (GE), where he held a variety of senior positions […]
Market Update There is no doubt that the on-line small business loan marketplace has achieved impressive growth and significant staying power in 2015. There has been much written about the $100 billion+ potential market opportunity born of the banking industry’s multi-year freeze out of the small business borrower. What is noteworthy in the following numbers […]
Global factoring volumes have reached a record €2.37tn in 2015, but the modest growth of 1.4% from the previous year points to growth imbalances across different regions. While domestic factoring remains dominant over international factoring, counting for 78% of the total, cross-border factoring increased by 8%, and is expected to keep driving factoring growth in […]
FT. LAUDERDALE, FL–(Marketwired – May 31, 2016) – BusinessCash announces an expansion of their merchant cash advance or ACH loans consolidation program. The online small business loan market has been experiencing turmoil with CEO of LendingClub resigning over faulty loans and publicly traded stocks of many online lenders tumbling over 70% from their IPO pricing. […]
LendingClub Corp. climbed the most in more than a year after the company was said to be in talks with Citigroup Inc. to have the bank purchase more debt generated through the online lending marketplace. Shares of LendingClub jumped as much a 17 percent in New York, the most intraday since December 2014. The stock […]
Some of Wall Street’s biggest banks are making contingency plans to cut their exposure to online consumer loans if the market deteriorates further after the recent crisis at LendingClub Corp., people with knowledge of the reviews said. While firms including Credit Suisse Group AG and Deutsche Bank AG haven’t scaled back exposure, they’re concerned about […]
TORONTO–(BUSINESS WIRE)–Wells Fargo & Company (NYSE:WFC) has named leaders for its Equipment Finance and Commercial Distribution Finance (CDF) Canada divisions following the completed acquisition of GE Capital’s Direct, Vendor and CDF businesses earlier this year. Continuing to deliver the suite of products and services offered in Canada and the U.S, Peter Ringler will lead Equipment […]
New York state’s financial regulator, which recently launched a probe into LendingClub Corp, is preparing to look into the activities at other online lenders and whether they should be licensed in New York, a person familiar with the matter said on Wednesday. The New York Department of Financial Services (NYDFS) has not yet established which […]