Sunday, January 29, 2023
  • Login
198 Crowd Funding News
No Result
View All Result
  • HOME
  • VIDEO
  • CROWD SUPPORT
  • ARTICLES
  • NEWS
  • BLOG
  • ADS
  • CROWDFUNDING SOURCES
  • BOOKS
  • SPONSORSHIPS
  • CONTACT
  • HOME
  • VIDEO
  • CROWD SUPPORT
  • ARTICLES
  • NEWS
  • BLOG
  • ADS
  • CROWDFUNDING SOURCES
  • BOOKS
  • SPONSORSHIPS
  • CONTACT
No Result
View All Result
198 Crowd Funding News
No Result
View All Result
Home Crowdfunding News

Strong Rebound Predicted for Online Lending in 2021

February 5, 2021
in Crowdfunding News
0
Share on FacebookShare on TwitterShare on Email

[ad_1]

After a difficult 2020 when COVID-19 pummeled the online lending market, loan originations are predicted to bounce back strongly in 2021, according to research by S&P Global.

The report states that from January to September, online lending tanked 36%. Loan originations began to recover in Q4.

The document uses LendingClub as an example pointing to the forbearance peak of 16% in May 2020. LendingClub increased credit criteria that reduced risk but also cut into originations and the marketplace lender experienced “model throughput at 40% to 50% below normal levels as of the end of the third quarter in an abundance of caution.”

Additionally, programs like the Paycheck Protection Program dimmed demand for lending by SMEs even further. But as the world slammed the pause button, as curfews were set, social distancing took hold and remote work became the norm, loan originations began to return.

To quote the report:

“After a 72% quarter-over-quarter decline in the second quarter of 2020, the industry posted an 83% increase in originations in the following period. While volumes remained severely depressed relative to year-ago levels, signs of renewed origination activity and competition for market share were visible in the second half of 2020.”

Some online lenders have returned to pre-pandemic levels. Online lenders like LendingPoint and Upstart Holdings Inc. grew origination volumes year-over-year in the first three quarters of 2020. The report states that LendingPoint posted an all-time high quarterly origination volume of $271 million in the third quarter. Upstart posted a 35% year-over-year increase in origination volume in the first nine months of the year. Upstart reportedly made nearly 81,000 loans in the third quarter, in contrast to 12,000 loans in Q2 2020.

Student loans have fared better with originations down just 1% during the first 9 months of 2020.

Online lenders have “survived the storm,” says S&P, and they are poised to get bigger in the coming years. While 2021 may tally loan originations lower than 2019, 2022 is predicted to top each of the previous three years. Annual volumes in the industry are projected to grow at a compound annual rate of 26% between 2020 and 2024.



[ad_2]

Source link

Tags: LendingOnlinePredictedReboundStrong
ShareTweetSend

Related Posts

Crowdfunding News

Learning To Play Piano Is Made Easy With PopuPiano

June 3, 2022
Crowdfunding News

Solana Teaches Crypto Investors a Critical Lesson

June 3, 2022
Crowdfunding News

Caught naked!? | Crowdability

June 2, 2022
Crowdfunding News

EP #395 The Formula Nebia Towel Used To Raise $167,750 On Kickstarter

June 2, 2022
Crowdfunding News

News Fix: Startups Face a Souring Economy, SpaceX Skyrockets to $125 Billion

June 1, 2022
Crowdfunding News

Top 5 Crowdfunding Campaigns – May 2022

June 1, 2022
Load More
Next Post

New York City Seed Funding Reaches Record Levels with Focus on Freelancers, Healthcare, Bitcoin, Blockchain: Report

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

LATEST STORIES

Between Music – Crowdfunding video

June 5, 2022

Attacking A Market Failure With Candice Matthews Brackeen

June 5, 2022

Crowdfunding video – Kabeção 1st solo Album – Touching Souls

June 5, 2022

The Gecko – Failure is not an option

June 5, 2022

Roller Kingdom Crowdfunding Video

June 4, 2022

Introduction – Art of Failure with Eli Zelkha

June 4, 2022

Radbahn Crowdfunding Video + Fast Forward Science 2017 Film

June 4, 2022

Jorge Newbery at Failure Lab

June 4, 2022

Outland Denim Equity Crowdfunding Video

June 4, 2022

What I learned about Failure, Loneliness, and Red Lizard at the Spark Fest Cebu

June 4, 2022
Load More
198 Crowd Funding News

Own and operated by The Ike Lemuwa Group, LLC a Commonwealth of Virginia Limited Liability Company, USA.
Info@nigeriasmartnews.com / info@ikelemuwagroup.com
Toll-Free: 1 888 642 8433
3821 Dominion Drive Dumfries, Virginia, 22026. USA

Categories

  • Home
  • Crowdfunding News
  • Blog
  • Articles
  • Sponsorship
  • Crowd Support
  • Crowdfunding Sources
  • Partner with 198TILG Mastermind Platinum Group
  • Video

Recent News

  • Between Music – Crowdfunding video
  • Attacking A Market Failure With Candice Matthews Brackeen
  • Crowdfunding video – Kabeção 1st solo Album – Touching Souls
  • The Gecko – Failure is not an option
  • Roller Kingdom Crowdfunding Video
  • Home
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact

Copyright © 2021 198 Crowdfunding News.

No Result
View All Result
  • HOME
  • VIDEO
  • CROWD SUPPORT
  • ARTICLES
  • NEWS
  • BLOG
  • ADS
  • CROWDFUNDING SOURCES
  • BOOKS
  • SPONSORSHIPS
  • CONTACT

Copyright © 2021 198 Crowdfunding News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In