Lending

Credit quality has remained strong at credit unions, but there are hints that some of them — especially the smallest ones — could report lackluster earnings well into next year, according to the National Credit Union Administration's latest intel on industrywide finances.

Lenders should be prepared to act quickly and decisively, leveraging the power of technology, innovative lending approaches, low interest rates and renewed commitment to small business funding, says LendingFront's Jorge Sun.

Year to date Jun. 30, 2020. Dollars in thousands.

While digital pay innovation was once seen as a “nice-to-have” benefit, it's quickly becoming integral to business survival, says LendingFront's Jorge Sun.

The company's latest report predicted there could be sustained economic pressures well into next year tied to rising coronavirus cases.

The uncertainty from the pandemic has made costs unpredictable, says Ally Lending's Hans Zandhuis.

Underwhelming participation in the middle-market loan program has forced the central bank to reduce the minimum borrowing amount for the third time, to $100,000.

With the COVID-19 pandemic creating unprecedented challenges for small businesses, American Express has increasingly targeted its investments in that niche.

When both origination and forbearance demand spiked in the early weeks of COVID-19, quick thinking lenders were able to leverage their expertise and tech stacks to respond quickly.

The coronavirus pandemic has turned every industry on its head. For lending, it exposed the need for modernized, fully digital platforms.