Equipment Finance Borrowings Dip 7% in April
Lenders are suffering from "the effects of the coronavirus pandemic, with volume levels and portfolio quality metrics both falling in tandem."
U.S. Household Debt Reaches New Heights
A rise in mortgage, auto loan, and credit card balances drives a record amount of post-financial-crisis consumer debt.
Sears Cutting Corporate Office Jobs
The job cuts are part of the ailing retailer's goal to shave $1.25 billion off annual operating costs.
Non-Prime Online Lender Sets IPO Terms
Elevate Credit loans money "to the vast and underserved segment of 170 million non-prime consumers in the U.S. and U.K."
Auto Sales Slowdown Driving Risk for Lenders
Moody's says credit risk is rising at a time when the average dollar amount of negative equity at trade-in is at record levels.
Equipment Financing Nosedives
New business volumes dropped substantially in July and are off 8% compared with 2015, says ELFA.
Experian Reveals Hack of T-Mobile Customer Data
Cyber thieves accessed information on 15 million consumers that T-Mobile provided Experian for credit checks.
Etsy Launches Pilot Crowdfunding Program
A lot of sellers on the online crafts marketplace see financing as a big hurdle to growth.
Credit Conditions Brighten for Small Businesses
The Experian/Moody’s Analytics Small Business Credit Index shows credit balances growing and delinquency rates dipping to cyclical lows.
Cost-Saving Idea: Don’t Take Credit Cards
Credit cards are increasingly used in business-to-business transactions, and the associated fees are cutting into profitability, says REL.
Banks Cutting Spreads to Win Borrowers
Tighter spreads, lower credit line fees, fewer interest-rate floors, looser covenants — banks continue to ease terms to build their business loan books.