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FinTechs Are Changing Small Business Lending
Right now, financial markets around the world are shaken by the current coronavirus pandemic (COVID-19). It’s a fluid situation with an uncertain outcome, and no one really knows what the long-term economic effects will be. The only things that seem certain is that the stock markets are choosing to ignore the pandemic right now, while …
Hinduja Global Solutions’ short-term loans to group companies raise concerns
Short-term loans from business process management firm Hinduja Global Solutions (HGS) of more than Rs 340 crore to group companies have raised concerns among corporate governance firms. The company confirmed in a post-benefit appeal last week that the loans had been made to Hinduja Group Ltd, Hinduja Realty Ltd and Hinduja Energy Ltd, and had …
Need $ 200 fast? Square’s Cash app experiments with short-term loans
In short: Need a small, short term loan quickly? There are still payday lenders, but their average annual percentage rate is almost 400%. A better option may soon come from Cash App, Square’s mobile payment app. The company is currently testing the feature with around 1,000 users, but if Square deems it successful, expect a …
Square tests low-value short-term loans
Cash App, Square Inc.’s mobile payment app, has launched a pilot program to offer short-term loans of up to $ 200, TechCrunch reported. “We are always testing new features in Cash App and recently started testing the ability to borrow money with approximately 1,000 customers,” a Cash App spokesperson said in a statement. “We look …
Fed to cut rates for cities and states looking for short-term loans
The Federal Reserve said on Tuesday it would cut the rates it charges on cities and states seeking short-term loans under an emergency lending program that has had little success so far . The changes to the program must be approved by the Treasury Department, which approved $ 35 billion to cover losses on up …
Fintech Creze Announces US $ 12 Million Investment to Strengthen Lending Platform
Don’t worry, we’re talking about: Spanish (Spanish), too much! Contxto – FinTech Creze announced that it recently closed MXN $ 265 million (approx. $ 12 million) with anonymous Mexican investors. The funds will be used to update its lending platform as well as “whatever comes next”. I’m paraphrasing a bit but they said that: “We …
Paytm appoints Bhavesh Gupta as CEO of its lending business
Bhavesh Gupta Financial services platform Paytm has announced the appointment of Bhavesh Gupta as managing director of the company’s lending activities. Open call for applications for the BuzzInContent Awards 2020 ENTER NOW Gupta will develop and expand Paytm’s lending services to strengthen the company’s vision for financial inclusion for 500 million Indians. Under his leadership, …
Paytm appoints Bhavesh Gupta as CEO of lending business
One97 Communications Ltd, which operates Paytm, has appointed Bhavesh Gupta as Managing Director (CEO) of its lending business. In his new role, Bhavesh will develop and expand Paytm’s lending services and help the company create new credit products for customers and SMEs in partnership with other banks and NBFC. Gupta will report to Amit Nayyar, …
Genesis lending activity grows as corporations seek returns
Traders are looking for yield, profiting at one of the largest trading and lending stores in the crypto industry. According to a second quarter review of Genesis Global Trading’s lending activities, the total number of loans outstanding reached $ 1.4 billion in the second quarter, an increase of 118% quarter over quarter. It added more …