Microlending is a relatively simple concept that can be complicated to evaluate. The theory behind it, pioneered by Nobel Prize-winning economist Muhammad Yunus, is pretty straightforward. By accessing small loans at moderate interest rates, impoverished borrowers can invest in building small businesses, getting an education or making...
SoLo Funds announced it has added a Mastercard integration so users can link their debit accounts to the peer-to-peer (P2P) lending platform. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional...
Microlending – or small loans (less than a few hundred dollars) – has become a popular, buzzed-about method of poverty relief over the last few decades. As of 2013, there were 211 million micro-borrowers worldwide; as of 2018, that number was nearly 240 million. Get...
U.S. Bank is entering the small-dollar lending arena. Going forward, U.S. Bank depositors will be able to tap into an online, digital lending product aimed at offering a small cash infusion to solve near-term problems. Get the Full Story Complete the form to unlock this...
September 13, 2023
The Connecticut Department of Banking has issued new industry guidance regarding the Small Loan Lending and Related Activities Act. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you agree to receive […]
April 05, 2019
SoLo Funds announced it has added a Mastercard integration so users can link their debit accounts to the peer-to-peer (P2P) lending platform. Get the Full Story Complete the form to...
April 26, 2018
Joseph Otting, Comptroller of the Currency, says that rules on short-term, small-dollar lending should be relaxed so U.S. banks are able to offer loans to cash-strapped consumers. Get the Full...
