Marketplace lenders see delinquencies, loan demand spike

By Jennifer Kang
31 Mar 2020

Delinquencies in the fastest growing segment of the consumer debt market are increasing at a heightened pace, with another wave of missed payments on marketplace loans expected on the first of the month. Amid the rise in delinquent loans, lenders are saying that they are seeing a jump in loan applications as more consumers seek a lifeline to stave off the effects of the pandemic.

3.3m Americans filed for unemployment in a single week in March, beating any previous record notched in US history. As household balance sheets come under increasing pressure, marketplace loans are set to become a crucial source of short term funding for consumers, and the virus outbreak will ...

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