At a Glance: To offer consumer loans in Florida, a Consumer Finance Company License is required. The license has specific requirements, including submitting an application, paying fees, and providing proof of $25,000 in liquid assets. Biographical summaries must also be submitted for certain individ…
At a Glance: To create a debt strategy for your credit startup, assess your startup’s financial needs by determining funding, repayment timeline, risks, and debt’s impact on cash flow. Develop a debt financing strategy by setting goals, researching lenders, understanding terms, creating …
At a Glance: Emerging markets, characterized by rapid growth and industrialization, face challenges of financial inclusion. However, Banking as a Service (BaaS) offers potential solutions. By leveraging digital technology, BaaS enables affordable and accessible financial services, benefiting the unb…
At a Glance: Businesses in Texas that want to offer loan and credit products need to obtain a lending license. To become a licensed lender, non-depository lenders who transact and/or collect loans with an interest rate greater than 10% must be licensed by the Texas Office of Consumer Credit Commissi…
At a Glance: Credit startups looking to obtain a Consumer Lending License in New Jersey must meet eligibility requirements, including being a registered business entity, having a minimum net worth of $50,000, having a registered agent in New Jersey, and having at least three years of experience in f…
At a Glance: Credit startup founders must prioritize risk management to ensure they lend to qualified and dependable borrowers. Four key areas that require attention are evaluating borrower creditworthiness, mitigating fraud risk, monitoring portfolio performance, and establishing operational contro…
At a Glance: Starting a fintech lending business requires obtaining state licenses, which can be time-consuming and expensive due to varying state requirements. In this blog, the process of obtaining a California lending license is detailed, including the California Finance Lenders Law and exemption…
At a Glance: BNPL programs offer customers a low or no-interest financing option and have become increasingly popular in recent years. Retailers who offer BNPL can benefit from a boost in conversions, an increase in the average ticket size, more repeat business, and reduced pressure on salespeople t…
At a Glance: Alternative financing provides entrepreneurs with funding options outside of traditional institutional finance, such as banks. It includes fintech services like consumer lending, equity financing, money transfers, payments, regulation management, and wealth management. Non-equity financ…
At a Glance: Building a successful credit and lending startup requires defining key positions: CEO/Founder, CTO, CFO, Operations Manager, Credit Analysts, Customer Service, and Sales and Marketing. Hiring the right people is crucial, considering qualities like industry expertise, adaptability, analy…