In the past decade, growth in financial technology has spawned a new generation of online lenders. These lenders use the latest technology to underwrite and finance small business loans. Customers can apply online and receive funding in 24 hours in some cases. ABF Journal Editor Nadine Bonner speaks with executives from three fintech companies that specialize in small business loans.
OnDeck appointed Kenneth A. Brause CFO. Brause previously worked for CIT as treasurer. Prior to that, he led the North America Banking group, including oversight of the Equipment Finance division.
On Deck announced that Zhengyuan Lu has been named VP of Capital Markets to optimize and strengthen the company’s capital structure. Previously, he was managing director of Gleacher & Company’s Asset Finance Group.