Subprime Progreso Financiero sells second personal loan ABS

Instalment lender Progreso Financiero has returned to the capital markets with a $100m ABS that draws from the $1bn in loans it has now made to borrowers. The firm's growth highlights the encroachment of non-banks into subprime and small dollar lending and may facilitate new rounds of securitization as investors look to non-traditional ABS for a pick-up in yield.