Weekly Online Lending Snapshot – December 01, 2017
Before diving into this week’s highlights, we want to thank Paynet for working with us to expand the data and insights we bring to you. Those who download the snapshot will notice the addition of two new indices in the Macro section; the Thomson Reuters/PayNet Small Business Lending Index (SBLI), and the Thomson Reuters/PayNet Small Business Delinquency Index (SBDI).
This week, as U.S. equity markets hit new highs, we saw a number of warnings about current equity valuations from members of the European Central Bank (ECB) (ECB) and U.S. Fed as well as analysts at Goldman Sachs, Vanguard Group, and others. The Federal Open Market Committee released the minutes of their October meeting, which among things, continues to set expectations for a much-anticipated December interest rate increase, stating, “The Committee expects that economic conditions will evolve in a manner that will warrant gradual increases in the federal funds rate.” It was also reported that the ECB is encouraging the creation of a european secondary market for non-performing bank debt.
It was reported that U.K.-based Castle Trust Capital entered into an agreement to invest up to £300 million over the next three years in consumer loans originated by, Kenya-based consumer and small business lender, Lendable. Assetz Capital reported that it completed its latest equity crowdfunding round via the Seedrs platform, raising £1.7 million. In the U.S., TransUnion announced the acquisition of FactorTrust, a provider of alternative credit data, analytics and risk scoring information. Mirador, a provider of white label small business lending solutions for banks, credit unions and specialty lenders, announced that over $1 billion in small business loans have been requested through its platform. LendingTree, announced that it entered into an amended and restated $250 million five-year senior secured revolving credit facility that will replace their previous $125 million credit agreement.
Note that this report is updated as of Thursday’s market close to ensure we can get it to you before the weekend.