loans

  • Google to restrict ads for payday loans

    Google to restrict ads for payday loans

    Google announced today that it will no longer allow payday lenders to advertise on its systems because the loans often come with high interest rates and quick repayment requirements that push borrowers into debt. Payday lenders offer quick cash to low-income people, who are then required to pay back their loans within a short time frame. If they don’t, they face exorbitant interest rates… Read More

  • E-susu aims to close the gap between community loan groups and traditional banking services

    E-susu aims to close the gap between community loan groups and traditional banking services

    An interesting hack presented on stage today at TechCrunch Disrupt New York 2016 is a platform for non-traditional banking services. Called e-susu, the app is designed for people who are involved with informal loan groups to help them better manage the process of lending money within a family or community group, as well as encouraging the saving process via increased transparency. Read More

  • Affirm secures $100M in Series D funding to expand beyond loans

    Affirm secures $100M in Series D funding to expand beyond loans

    Affirm, the alternative lending site started by PayPal co-founder Max Levchin, has raised a $100M Series D led by fellow PayPal co-founder Peter Thiel’s Founders Fund. The all equity round, which was confirmed to TechCrunch by the company, also included participation from existing investors including Lightspeed Venture Partners, Spark Capital, Khosla Ventures, Andreessen Horowitz… Read More

  • Future Finance raises $171M to grow its student loan platform in Europe

    Future Finance raises $171M to grow its student loan platform in Europe

    The idea of student loans is still a relatively new one in many parts of Europe, where university education in several countries is either entirely or largely subsidised by the government. But as that begins to change, and more young people and their families are being required to pony up academic and living fees, a new startup hopes to capitalise on the emerging gap to help… Read More

  • J.P. Morgan, OnDeck And The Future of Alternative Lending Crunch Network

    J.P. Morgan, OnDeck And The Future of Alternative Lending

    Earlier this month, J.P. Morgan announced a strategic partnership with OnDeck Capital to originate, underwrite, and distribute loans targeted specifically at small businesses. As evidenced by a 28% single-day spike in OnDeck’s share price, this announcement clearly is a big deal to one of the leading FinTech companies today, and has major implications for the future of alternative lending. Read More

  • 11 Actual “Rooms” For Rent In SF That Are More Than Your Midwestern Mortgage

    Let’s be honest, every apartment for rent in San Francisco is more than the average Midwestern mortgage. An ordinary 35-44-year-old homeowner in the U.S. hands over about $1,073 per month for their house payment, according to the Bureau of Labor Statistics. The SF average for a one bedroom apartment is nearly three times that, at $2965 per month. Of course, the high rent has much to… Read More

  • Google Launches Mortgage Shopping Tool In California, More States Coming Soon

    Google Launches Mortgage Shopping Tool In California, More States Coming Soon

    Google is now a licensed mortgage broker in California. The company today launched a mortgage comparison tool for home shoppers in California, with support for more states coming soon. Today’s announcement doesn’t come as a major surprise, given that the company already signaled its intentions to launch this product earlier this year. Read More

  • Leveraging Technology To Make Credit Credible Crunch Network

    Leveraging Technology To Make Credit Credible

    The small-dollar credit (SDC) market — think payday and auto-title lending — is ripe for innovation and disruption. Most of the $44 billion industry consists of high-cost, low-quality products that lead people into cycles of repeat usage and mounting debt. Regulatory burdens, reputational risk and the tough economics of making small loans profitable have limited the supply of… Read More

  • Loan Platform Kabbage Raises $135M At A $1B Valuation, Grows Credit Line to $900M

    Loan Platform Kabbage Raises $135M At A $1B Valuation, Grows Credit Line to $900M

    Kabbage — the online platform that loans money to businesses and individuals using a wide set of online data and algorithms to measure credit-worthiness — is growing once more. The startup based out of Atlanta has raised a Series E of $135 million, and expanded its credit facility — the money it has on hand to fulfil loans — to $900 million. Kabbage is not… Read More

  • WeFinance Offers A Crowdfunded Alternative To Student Loans And More

    WeFinance Offers A Crowdfunded Alternative To Student Loans And More

    WeFinance, launching today, is the latest startup to use a combination of technology and crowdfunding in order to offer borrowers lower interest rates on loans, while reducing lenders’ risk. The new peer-to-peer lending platform operates something like a Kickstarter for personal loans – largely those in the range of $10,000 to $20,000, and many of which are being used to help… Read More