Lending analytics firm Orchard Platform has cut a deal with alternative small-business lender Kabbage to allow institutions to invest in the latter's relatively new line of consumer loans.
It's a small step toward a grander vision, shared by many in the field, of a major secondary market for nonmortgage personal and small business debt, powered by data and analytics that give investors granular transparency on every loan.
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"Investors on Orchard can now analyze data, invest in [Kabbage's consumer] loans in a data-driven way, and manage their portfolio through a unified product that provides visibility into all their marketplace investments," Orchard's co-founder and chief product officer David Snitkof said in a press release.
Kabbage,