New Action Plans from the Leading Consumer Lenders
Millions of people have lost their jobs in the past two weeks which is having a tremendous impact on our economy; we reached out to several of the leading online consumer lenders to learn what actions they have taken amid the fallout from COVID-19; the questions we asked include:
- What are you doing to help your existing borrowers?
- How are you changing their underwriting?
- How are you responding to increased loan demand?
- What is your message to investors?
Companies who responded include LendingClub, Marcus, Prosper, Avant, Opploans and Aura; it is apparent from these responses that the fintech community has responded extraordinarily quickly to the events; in addition applications are not increasing much and in some cases they are decreasing. Lend Academy