deBanked reports that Bond Street has stopped making new loans; seven months ago Bond Street announced a $300 million loan purchase agreement with Jefferies; the WSJ outlines that engineers, product developers, and risk and marketing specialists will join Goldman’s consumer bank; Square is allegedly also in talks with some Bond Street employees. Source
Jefferies has renewed their loan purchase agreement with small business lender Bond Street; deal expands loan purchases to as much as $300 million building on a $100 million commitment from mid-2015; Bond Street has also expanded their term product and now will make loans from $10,000 to $1 million; previous loans were between $50,000 to $500,000; investors in the company include Spark Capital, Homebrew as well as the co-founder of Airbnb and David Chang, chef and owner of momofoku. Source
Bond Street is partnering with NerdWallet to develop small business lending resources to educate small businesses on its loans; resources will include service from NerdWallet's Small Business Loan Tool as well as guides and webinars on marketplace lending and small business planning; with the partnership, Bond Street intends to more broadly market and service small business lenders with its loan offerings which range from $10,000 to $1 million. Source
Bond Street, a small business lender is the latest company to announce a significant round of equity and debt financing....