Small business lending

The $243 million transaction – Small Business Lending Trust 2020-A – is backed by a static pool of 1,930 loans originated and serviced by an affiliate of the U.K.-based lender.

The inaugural securitization for the Los Angeles-based lender will include $34.86 million in Class A notes, with an initial BBB rating from S&P Global Ratings.

ReadyCap Lending Small Business Loan Trust 2019-2 is a transaction of $131.03 million in Class A notes, secured by the unguaranteed interests of a pool of 1,101 small-business loans totaling $155.25 million.

According to a presale report from Kroll, the additional notes will carry the same ratings and terms on the five counterpart classes of $700 million in outstanding notes.

At a forum convened by the CFPB, several bank and fintech executives argued that long-delayed rules required under the Dodd-Frank Act can help fight discrimination and shine a light on unsavory practices in the market for small-business credit.

The acquisition of Radius Intelligence fits with the online lender's existing focus on small commercial borrowers.

The online SME lender is marketing $198.45 million in notes backed by U.S. originations. Funding Circle has previously issued ABS deals backed by small-business loans in its native UK.

The decision is a blow to OnDeck, which said Monday that it intends to pursue a bank charter, either by applying for one or by buying a bank.

The global alternative asset manager is buying a majority stake in the investment advisory of CM Finance, which lends and makes equity investments in middle-market companies.

The agency's spring rulemaking agenda includes the process for collecting small-business data as well as underwriting rules for GSE-backed loans. But what's missing from the list may be just as important.