Blog Archives - LEND360

Is Loan Stacking a Perennial Problem in Online Lending?

By: Brock Blake, CEO, Founder of Lendio

The debate over stacking—the practice of multiple lenders making loans to one borrower, often in a short period of time and without a full picture of the business’s ability to pay—and whether it should be allowed in the business lending space, has been ramping up for a few years now.

Small businesses are the engine of the economy

By: Michael Day, LEND360 Policy Director

“Small businesses are the engine of the economy,” the saying goes. When you consider small businesses account for 99% of all firms according to the US Small Business Administration Office of Advocacy, it’s hard to argue with that adage. So, if small businesses are the engine of the economy then capital is the fuel that runs those engines.  Historically when an entrepreneur needed capital they put on their best suit and visited the local bank to apply for a loan. This tried and true method was the ritual for decades until 2008, when this country experienced its worst financial crisis since the Great Depression.

Credit Decision-Making: A Careful Balance of Modeling and Manpower

By: Ben Gold, President, QuickBridge

This increasingly automated world, with access to virtually unlimited data points and insights, has truly turned the lending industry on its head. We’ve come a long way from the loan officer who sat with a pile of applications on his desk and carefully reviewed the merit of each request. Before the fintech explosion, applicants would wait days, or sometimes weeks, for an answer and were subject to the biases—good or bad—of the underwriter.

As you may already be aware, the Honorable Tom Curry left his post as head of the OCC earlier this month. Curry’s departure brings with it questions as to how the move will impact important fintech community priorities, like the national charter.