Small business

OnDeck Capital in New York reported a $5.1 million loss in the fourth quarter as revenue failed to keep pace with rising expenses.

The terms "peer-to-peer" and "marketplace" lending are often used interchangeably to define all manner of loans made through the Internet. The reality, though, is that aside from lacking storefronts, the many firms now operating in this arena have little in common with one another. Here's a guide to help tell them apart.

CCB Bankshares in South Hill, Va., has raised $3.5 million in a private placement of debt and will use some of the money to exit the Small Business Lending Fund.

About 10% of midsize businesses say they want to develop a relationship with nonbank providers, such as marketplace lenders or business development companies, and even more are said to be considering switching banks.

Pathfinder Bancorp in Oswego, N.Y., has exited the Small Business Lending Fund program.

The NCUA's plan to expand credit unions' business-lending powers generated more than 3,000 comment letters, mostly from bankers urging a "no" vote. But the agency's board is expected to stick by its original proposal.

There are millions of businesses deserving of loans that banks using traditional data resources might overlook due to their thin credit histories.

Fifth Third Bancorp in Cincinnati said Thursday that it will spend $27.5 billion over the next five years to provide loans and other financial services to underserved communities in its region.

Inspired by marketplace lenders, Live Oak Bancshares created a largely digital product that can make a credit decision on a small-business loan within 48 hours. The product, which combines human decision-making and automated credit scoring, could go national as early as next year.

Stephen Steinour, chief executive of Huntington Bancshares in Columbus, Ohio, has pursued a risky strategy of taking losses in exchange for adding new customers, the Cleveland Plain Dealer reported.

First Resource Bank in Exton, Pa., has received federal regulatory approval to exit the Small Business Lending Fund program.

SunTrust Banks in Atlanta has committed $50 million to a credit facility for the online small-business lender Credibly.

Atlantic Capital Bancshares in Atlanta has formed a lending division to focus on the emerging film and entertainment industry in Georgia.

OnDeck Capital, an online small-business lender in New York, has added a former E-Trade Financial executive to its board, as another director plans to leave.

The marijuana industry is still hampered by its own banking crisis, but the rigidity of federal laws is not stopping all advances in financial services for the sector.

Univest believes its subscription-based pricing model may have solved a persistent fee conundrum – charging small-business customers for various services without irking them.

Independent Bank Group in McKinney, Texas, has exited the Small Business Lending Fund program.

Opus Bank in Irvine, Calif., is the latest bank to partner with an online lender, announcing an agreement Thursday to refer certain small-business customers to OnDeck Capital.

BlueVine, a Palo Alto, Calif., firm that is aiming to modernize the invoice-financing business, announced a new fundraising round on Wednesday.

The Current Expected Loss Credit model will help to quantify bankers' intuition and can be built with readily available data.