Smart Borrower Blog

Archive for the ‘Personal Loan Rates’ Category

Study: Companies That Use Business Loans From the Start Are More Successful

Mar 14th, 2018 @ 8:53 PM by Amber Nelson

Small businesses that borrow small business loans are much more likely to survive and be successful than those that don’t, according to a new study. Those who start funding their companies immediately with personal loans are much less likely to do well. The study was produced by finance professors Rebel Cole of Florida Atlantic University […]

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Payday Loans Meet Stricter Regulation

Oct 25th, 2017 @ 9:13 AM by Amber Nelson

Payday lenders will now be more limited in how they can structure their short-term personal loans, based on a new rule from the Consumer Financial Protection Bureau. This could have serious financial impacts on the 12 million borrowers who take out payday loans annually as well on the lenders who make those loans. A payday […]

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Online Loan Market Shows Signs of Weakness

Nov 16th, 2016 @ 1:09 PM by Amber Nelson

Roughly $650 million in online loan securities have or are expected to reach dangerously high levels of default, according to Bloomberg. This latest news is just one of several signs that there is a growing credit weakness in the online lending market. Bloomberg reported that Avant Inc. has already had two of its large online […]

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PayDay Loans to Get Government Overhaul

Mar 30th, 2016 @ 8:22 PM by Amber Nelson

Payday personal loans will soon be more heavily regulated by the U.S. government, with new rules to be released in mid-May, according to the Consumer Financial Protection Bureau (CFPB). These types of loans allow borrowers to get smaller amounts of quick cash, borrowing against their future paychecks. They come with astronomically high interest rates and […]

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U.S. Consumers Credit Delinquencies Fell in 2nd Quarter

Oct 21st, 2015 @ 11:34 AM by Amber Nelson

Building on a three-year trend, consumers did even better at managing their credit during the 2015 second quarter, according the American Bankers Association. The ABA composite ratio, a measure of delinquencies (payments late by 30 or more days) in eight closed-end installment loan categories, declined to 1.36 percent, down 17 basis points from 1.53 percent […]

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Consumer Credit Delinquencies Fell in Third Quarter

Jan 21st, 2015 @ 9:32 PM by Amber Nelson

U.S. consumers continued to keep up with their debt payments in the third quarter of 2014, according to data from the American Bankers Association’s Consumer Credit Delinquency Bulletin.  Delinquencies – payments that were late by 30 days or more – only rose in three of the 11 categories the ABA tracked, showing that Americans are […]

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Lenders Target Good Credit Customers for Personal Loans

Oct 15th, 2014 @ 5:34 PM by Amber Nelson

Although they have been synonymous outrageously high interest rates in the past, unsecured personal loans are not being marketed toward those with highest credit scores as a way to consolidate debt, buy cars or even do some home improvements. Total personal loan originations have jumped up to $34.5 billion during the first half of 2014, […]

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Bigger Mortgages Loom Over Baby Boomers

Sep 25th, 2013 @ 7:47 PM by Amber Nelson

Those near retirement are headed into their golden years with more and more mortgage debt, according to a recent paper , which could spell financial trouble for those retirees in the next decade. Research from economists AnnaMaria Lusardi of George Washington University and Olivia Mitchell of the Wharton School of the University of Pennsylvania in […]

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Banks Turn To Payday Loans as Regulation Tightens

Nov 14th, 2012 @ 10:13 PM by Amber Nelson

As the nation’s banks look for ways to recoup their losses from recent fee regulations, some are looking to the payday-style loan to bring in extra cash. Wells Fargo and U.S. Bancorp are among the big banks who are advertising short-term loans that look an awful lot like the ill-reputed payday loans offered by strip-mall […]

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Personal Loans: Regaining Popularity

Oct 13th, 2010 @ 4:01 PM by Amber Nelson

Up until last year, personal loans were all but dead. Banks just weren’t promoting them when money was so easy to come by with home refinances, credit cards, or small business loans. Now that most of those sources have dried up for many people, personal loans are becoming an important source of funds for consumers. […]

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