Small businesses continued to get most of their loans approved by institutional investors this past July, the most recent Biz2Credit Small Business Lending Index reports.
Institutional lenders approved 61.7 percent of small business loans in July, up from 61.4 percent in June. In fact, small business loan approval rates by institutional lenders have been on the rise each month since January 2014, when Biz2Credit first started monitoring this category. Between then and now the category has seen a year-over-year growth of 8.67 percent.
Lending approval rates at institutional lenders continue to surpass those at alternative lenders, including merchant cash advance companies and other...
September 10, 2015
On Deck Capital (NASDAQ:ONDK) was upgraded by Zacks from a hold rating to a buy rating in a report released on Tuesday, Analyst Ratings Network.com reports. The firm presently has a $11.00 target price on the stock. Zackss price target points to a potential upside of 16.28% from the companys current price.
According to Zacks, On Deck Capital, Inc. is an on-line platform that uses a big data, analytic model to source, underwrite, and fund loans to small businesses. The Company offers online tools and resources including data aggregation and electronic payment technology, and to evaluate the health of small businesses. Its small business loans include dental loans, restaurant loans,...
September 10, 2015
Source: Pictures of Money via Flickr.
Earning minimum wage can be difficult on an individual or their family for a variety of reasons. One of the big ones is their likely inability to save for retirement. While some minimum wage workers might think that theyll just work forever, our physical health, an unexpected emergency, or even our employer may interfere with that plan. Thats why its important for everyone, even workers earning minimum wage — of which there were 3.3 million in 2013 according to the Bureau of Labor Statistics — to take steps now to save for retirement.
With this in mind, we asked three of our top retirement contributors to offer guidance geared...
September 9, 2015
Now, the Consumer Financial Protection Bureau is in the process of establishing rules governing the short-term lending industry that may make it harder for these folks.
Presumably, the bureau is trying to protect consumers from getting caught in debt traps – a vicious cycle of borrowing and never getting out of debt. So the agency is taking aim at small-dollar credit providers like payday loans, title loans, and high-cost installment loans.
“As written, the regulations could wipe out most — if not all — of the entire short-term lending industry, leaving consumers without any market alternatives,” says Sasha Orlof , CEO of LendUp, a direct lender...
September 9, 2015
Shares of On Deck Capital, Inc. (NYSE:ONDK) ended Thursday session in red amid volatile trading. The shares closed down 0.07 points or 0.73% at $9.51 with 354,181 shares getting traded. Post opening the session at $9.46, the shares hit an intraday low of $9.21 and an intraday high of $9.632 and the price vacillated in this range throughout the day. The company has a market cap of $662 million and the number of outstanding shares have been calculated to be 69,587,000 shares. The 52-week high of On Deck Capital, Inc. (NYSE:ONDK) is $28.98 and the 52-week low is $8.775.
Shares of On Deck Capital, Inc. appreciated by 4.85% during the last five trading days but lost 26.68% on a 4-week basis....
September 9, 2015
NEW YORK, Aug. 13, 2015 /PRNewswire/ –eProdigy LLC, a FinTech holding company specializing in alternative lending, has appointed Christopher Keane as Director of Underwriting. Prior positions include 15 years at First Data, where as Director of Underwriting, he was responsible for the processing of approximately twenty-five thousand new merchant bankcard applications monthly. With that experience in back-end risk management and front-end underwriting, he brings to eProdigy a deep understanding of the procedures, policies and best practices needed to sustainably scale eProdigys Merchant Cash Advance business. In turn, this will optimize eProdigys underwriting decisioning performance beyond...
September 8, 2015
KNOXVILLE (WATE) It seems everyone is exploring new ways to save money, but sometimes the basics are forgotten.
If you have ever bought something that’s used and in good shape, the depreciation was taken on the chin by the original owner. Purchasing a used car, secondhand appliances in good working order, and gently used clothes and books are some of the best money-saving moves.
Don’t wait until you need an item to buy. For instance, look for bargains right now during the dog days of summer. Now is the time to scour thrift stores for winter clothes.
Another money saving tip: if you have a large family, buy in bulk. Compare prices per ounce or per unit, instead...
September 8, 2015
New Delhi: State-owned Oriental Bank of Commerce (OBC) slashed the minimum lending rate, or the base rate, by 0.1 per cent to 9.90 per cent, a move which will lower EMIs for its borrowers.
The bank has reduced base rate to 9.90 per cent from 10 per cent with effect from August 17, OBC said in a statement.
With the reduction in base rate, all loans linked to the base rate will become cheaper by 0.1 per cent.
The reduction in base rate by the bank comes even after the Reserve Bank of India kept the benchmark rate unchanged in the monetary policy review on August 4.
The RBI kept repo rate – the short-term lending rate, cash reserve ratio (CRR) and statutory liquidity...
September 7, 2015
Excel Corporation Reports Results for the Second Quarter Ended June 30, 2015
Record Revenue Drives Operating Income Increase of Over $1 Million From June 2014 Quarter August 14, 2015: 11:20 AM ET
Excel Corporation (OTCQB: EXCC), a leading provider of integrated financial and transaction processing services to merchants throughout the United States, today reported consolidated results for the second quarter ended June 30, 2015. Due to its acquisition of Payprotec Oregon LLC dba Securus Payments (“Securus”) in April 2014 and limited operations prior to that acquisition, comparative results between the 2015 and 2014 periods may not be meaningful.
September 6, 2015
We continue to expect both economic growth and labor market activity to continue shifting higher, providing the justification for the Fed to begin the normalization in monetary policy in September, said Millan Mulraine, deputy chief economist at TD Securities in New York.
The National Association of Realtors said existing home sales increased 2 percent to an annual rate of 5.59 million units last month, the highest pace since February 2007.
Demand for housing is being boosted by a strengthening labor market. But supply remains tight, pushing up home prices and sidelining first-time buyers, who are a key part of a strong housing market. The share of first-time buyers fell to a six-month...
September 5, 2015