Get instant alerts when news breaks on your stocks. Claim your one week free trial for StreetInsider Premium here. NEW YORK, March 15, 2022 (GLOBE NEWSWIRE) — Small Business Loan Approval Percentages at big banks ($10+ in assets) went from 14.5% in January to 14.7% in January, and small banks‘ Approvals also increased, from 20.3% […]
Tag Archives: loan applications
Access to affordable capital is essential to running a small business. Still, the business loan application process can be daunting — and approval isn’t a sure thing, even if you have good credentials. According to the Federal Reserve’s 2021 Small Business Credit Survey, 12% of businesses that needed financing but chose not to apply did […]
Track loan application with J&K Bank on GSS electronic portal Jammu Tawi, February 25: J&K Bank on Friday launched its electronic GSS portal for tracking loan applications submitted under government-sponsored (GSS) schemes. Chief Secretary, Dr. Arun Kumar Mehta, inaugurated J&K Bank’s GSS electronic portal for real-time monitoring of credit applications under government-sponsored schemes and described […]
AAccess to affordable capital is essential to running a small business. Still, the business loan application process can be daunting — and approval isn’t a sure thing, even if you have good credentials. According to the Federal Reserve’s 2021 Small Business Credit Survey, 12% of businesses that needed financing but chose not to apply did […]
Buying a home during the pandemic has been a story of bidding wars, housing shortages and rapidly rising house prices. Despite this, historically low interest rates have encouraged millions of buyers to take out loans for new homes. According to mortgage data at the loan level of the Home Mortgage Disclosure Act (HMDA)86.3% of 2020 […]
Photo credit: Freedomz / Shutterstock Buying a home during the pandemic has been a story of bidding wars, housing shortages and rapidly rising house prices. Despite this, historically low interest rates have encouraged millions of buyers to take out loans for new homes. According to mortgage data at the loan level of the Home Mortgage […]
As banks continue to merge, advocates are trying to ensure low-income communities won’t have to pay for it. By Robin Urevich, Capital & Main This story is produced by the award-winning journalism association Capital and main and co-published here with permission. At a time when big banks are easily getting approval for profitable mergers, some […]
Ministry of MSMEs includes uniformity of loan applications in draft policy to improve access to finance New Delhi, 15 Feb. (KNN) In order to improve the access of MSMEs to financial assistance, the draft national policy proposed the introduction of uniformity and simplification of the different loan application formats and the evaluation process in line […]
UK regulators have warned banks against using artificial intelligence (AI) in loan applications, as high street lenders must ensure machine learning does not worsen discrimination at the regard to minorities. Major banks are exploring ways to further automate their lending, including the use of AI and more advanced algorithms, to decide who to lend to […]
ClearScore Trust: Empowering consumers to make better lending decisions Key points: ClearScore is launching a new feature for its Australian users: ClearScore Trust. ClearScore Trust helps users understand their chances of approval on their loan applications. The feature is currently available for personal loans and will soon include car loans, followed later by credit cards. […]
The Covid-19 pandemic may have caused an economic downturn in Cambodia, but in real terms mortgage applications are on the rise. According to an annual report by the National Bank of Cambodia, home purchase credit in the country grew by 37% in 2021, illustrating a sign of growing demand for home ownership among Cambodians. In […]
Mosby won $250,000, but said she was facing financial hardship related to COVID. January 13, 2022, 11:04 PM • 4 minute read Share on FacebookShare on TwitterEmail this article A federal grand jury in Maryland has indicted Marilyn Mosby, the Baltimore City state attorney, on two counts of perjury and misrepresentation on mortgage applications she […]
SAN DIEGO, January 13, 2022 /PRNewswire/ — Point Predictive Inc., the San Diego, a London-based company that provides machine learning solutions to the lending industry, today announced that its industry-leading fraud team has reached the milestone of identifying $1 billion in fraudulent loan value linked to over 5,000 fake employers on auto loan applications. Findings […]
On January 6, 2022, the Federal Trade Commission reached a $1.5 million settlement with loan application firm ITMedia Solutions LLC (“ITMedia”) regarding alleged violations of the FTC Act and the Fair Credit Reporting Act (“FCR”). The FTC alleged that ITMedia deceptively acquired and indiscriminately shared consumers’ sensitive personal information under the guise of connecting them […]
Although the approval percentages of banks and non-bank lenders (institutional lenders, alternative lenders and others) have risen steadily over the past 12 months, the rebound in small business lending is far from robust. Bank vault. (Photo by Dick Whittington Studio/Corbis via Getty Images) Corbis via Getty Images According to the latest Biz2Credit Small Business Loan […]
Approval percentages at large banks, small banks, institutional lenders, alternative lenders and credit unions are still about half of what they were in December 2019 NEW YORK, January 11, 2022 (GLOBE NEWSWIRE) – Small business loan approval percentages in big banks ($ 10 + in assets) fell from 14.2% in November to 14.3% in December, […]
The customer service of banks is in the spotlight. Photo / Getty Images Mortgage professionals have criticized some banks for their “terrible” customer service and the time it takes to process home loans. An adviser said a bank did not take out a home loan for 27 days. Banks interviewed by NZME said the consumer […]
KUALA LUMPUR: Small and medium-sized enterprises (SMEs) can seek assistance from Bank Negara Malaysia (BNM) if they encounter difficulties with their loan applications, BNM Governor Datuk Nor Shamsiah Yunus said today . She explained that despite claims that banks are stricter in assessing credit profiles, general statistics showed loan disbursement has returned to pre-pandemic levels. […]
What to do if you cancel your loan application Loans are great helpers when it comes to quick access to money, easy and paperless application and reliable online lenders. The online application is what grabs the attention of potential borrowers. Who needs conventional banks with their queues and high fees when you can fill out […]
Do you want to drive a car? Own a house? Go to the University? Consolidate your debt? Finance your wedding? If you answered “yes” to any of these questions, chances are you will need to apply for a loan at some point. If you do, don’t feel bad; more than half of americans say they […]
University to provide students with up to Tk 8,000 in the form of a low rate loan Authorities at Dhaka University (DU) have asked university students to submit loan applications to purchase smartphones for the purpose of participating in online classes and exams. The university will provide up to Tk 8,000 in the form of […]
Slight declines in approval percentages at alternative lenders and credit unions NEW YORK, Sept. 08, 2020 (GLOBE NEWSWIRE) — Small business loan approval percentages at large banks (over $10 billion in assets) and small banks fell slightly in August 2020, this which indicates that the upward trend that began in May has stabilized, according to […]
If you haven’t completed a Paycheck Protection Program (PPP) loan application by the previous deadline, you’re in luck. On July 4, President Donald Trump extended the deadline for PPP loan applications by more than a month. The new deadline for PPP loan applications is August 8. PPP loan deadline extended to August 8 The previous […]
Small businesses are struggling to get the non-government money they need from banks to stay open, according to a new index. This at a time when they need it most. Specifically, the approval rate for small business loans fell to 8.9% in April from a record high (28.3%) in February. This is the lowest approval […]
NEW YORK, May 12, 2020 (GLOBE NEWSWIRE) — The approval percentage for small business loan applications to big banks (over $10 billion in assets) fell below double digits to just 8.9%down from 15.4% in March and an all-time high of 28.3% in February 2020, according to the Biz2Credit™ Small Business Loan Index published today. The […]
It’s been almost four years since Fannie Mae and Freddie Mac announced they are changing the standard mortgage application form for the first time in 20 years, but it will be another 11 months before the mortgage industry is required to use the new uniform residential loan application. Fannie and Freddie announced last week that […]
All categories of small business lenders take a nosedive as coronavirus wreaks havoc on economy Until the coronavirus pandemic hit the United States, small businesses were thriving and creating jobs, unemployment was at a 50-year low, consumer confidence was high, and in general the U.S. economy was sluggish. as strong as it has ever been […]
Opinions expressed by Contractor the contributors are theirs. Many small business owners complete their Paycheck Protection Program (PPP) loan applications and run into common questions and hurdles. The immediate question currently revolves around two issues: First, how do I work with my bank or find a bank to submit it to? And secondly, how to […]
Officials across the U.S. banking industry rushed overnight to roll out a massive new government-backed lending program to help small businesses ravaged by the coronavirus pandemic and many have not been able to make it happen before Friday’s deadline given that the Treasury Department released its lending guidelines late Thursday night. The $350 billion federal […]
In a review of 30,000 small business loan applications sorted by industry over the past year, Biz2Credit surprisingly found that food service and accommodation businesses had the highest loan approval rates highest (51%) in 2018 compared to retail, healthcare, and professional and personal services. According to the study, food and lodging businesses, including hotels, caterers […]
Your credit score isn’t the only factor that lenders consider when deciding whether to approve you for a personal loan. Image source: Getty Images. Your credit score isn’t the only factor lenders consider when deciding whether or not to approve you for a personal loan. When applying for a personal loan, you want to maximize […]