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PayPal (Maybe) Pulls Ahead Of The SMB Lending Pack

PYMNTS

Not only do the figures suggest ramped-up competition between alternative and traditional lenders, but also competition within the alternative and marketplace lending community itself. Overall, small businesses’ economic sentiment for the quarter fell – but there is some good news. Beyond the U.S. , billion lent to SMBs in the quarter.

Lending 168
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Meta Financial gains national lending platform with Crestmark deal

Payments Source

The payments company will pay $321 million for Crestmark Bank, a commercial lender that focuses on asset-based lending, equipment finance and government-guaranteed loans.

Lending 63
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Amazon To Launch Storefront That Sells US SMB Products

PYMNTS

We’re championing their success with this new store as well as a national advertising campaign featuring a successful Michigan business selling on Amazon to customers across the U.S. based SMBs through the Amazon Lending Program in 2017. and worldwide.”. Amazon also reported that it lent more than $1 billion to U.S-based

US 189
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Synchrony Says Erroneous Email Not Tied To Data Breach

PYMNTS

The company has a partnership with Amazon in which it lends to customers with low credit scores. “We have confirmed none of your personal data was compromised,” the financial services company said in an email to customers. In other Amazon news , the eCommerce giant is opening a store on the Chinese site Pinduoduo.

Data 130
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CFPB announces advisory committee members

CFPB Monitor

Nikitra Bailey, EVP, Center for Responsible Lending (Durham, NC). Lorray Brown, Attorney/Consumer Law Attorney, Co-Director, Michigan Poverty Law Program (Ypsilanti, MI). Rebecca Steele, President/CEO, National Foundation for Credit Counseling (Washington, DC). Clarksdale, MS). Bank (Minneapolis, MN).

DC 78
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VCs Back Autobooks For SMB Banking

PYMNTS

Banks and credit unions are looking for differentiated product offerings that not only deliver value for their members, but create new revenue streams and lending opportunities.”. We are really pleased to have such a strong group of local and national investors, including VC funds and a strategic partner,” Robert said.

Detroit 122
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What Is Powering The Emerging Pawnaissance?

PYMNTS

While short-term lending in general has a pretty rough reputation, the pawn loan is the most ill-regarded arena in an already unloved category of consumer lending. The loan amount a borrower can get from a pawnbroker is determined solely by the value of the item itself; as in most forms of short-term lending, there is no credit check.

Ohio 151