(via WSJ.com) Lending Club, the biggest “peer-to-peer” consumer-lending platform, today launched a platform for investors to fund loans to small companies. It joins a number of upstarts, including Dealstruck and Funding Circle, offering small businesses alternatives to banks, credit cards and short-term lenders.
“The ventures aim to capitalize on a crunch that has been growing since the financial crisis. The value of outstanding commercial loans under $1 million at federally insured banks—a proxy for small business—has declined nearly 15% since 2008.”
Continue reading: Lender Expands to Small Businesses (WSJ.com)