COVID-19 Impact: Nonprofit lenders step in to help women, minority-owned businesses survive by offering ‘microloans’

HAYWARD, Calif. (KGO) — By some estimates, about 6,000 businesses have closed in the Bay Area since the COVID-19 pandemic began in March about half permanently. Minority and women-owned businesses are among them. However, they’re getting help with something called “microloans” from nonprofit lenders. They’re small loans that can help […]

Experian Finds 89 Percent of Lenders Believe Alternative Credit Data Improves Financial Access for Consumers Seeking Credit During COVID-19 Pandemic

Bloomberg Perelman Selling Almost Everything as Pandemic Roils His Empire (Bloomberg) — Bit by bit, billionaire Ronald O. Perelman is parting with his treasures.His Gulfstream 650 is on the market. So is his 257-foot yacht. Movers hauled crates of art from his Upper East Side townhouse after he struck a […]

Trio of consumer lenders launch ABS deals

Despite expectations of forthcoming pandemic-related troubles in securitized consumer loans, three lenders are issuing their first asset-backed transactions since the outbreak of COVID-19 in the U.S. New York-based Liberty Lending is offering a $121.53 million bond package backed by a pool of loans it has underwritten for debt-relief purposes. Meanwhile, […]