The online small
business lending market in Australia is growing at a faster rate than the US market did at a similar stage of development, the CEO of OnDeck Global has said.
Since entering the Canadian online small
business lending market in 2014, OnDeck has provided more than CAD$ 160 million in capital to small businesses in Canada.
On May 10, the Consumer Financial Protection Bureau (CFPB) issued a Request for Information (RFI) seeking to learn more about the small
business lending market.
Yet tucked into the massive Dodd - Frank Act is a small provision, section 1071, which requires the CFPB to issue rules regarding the collection of data to help identify needs and opportunities in the small
business lending market and to facilitate enforcement of fair lending laws.