Supply and Demand for Online Consumer Loans Plummets

Loan comparison fintech Monevo says demand for online consumer loans has dropped by almost 40 percent; this coupled with the fact that many lenders have stopped originating since they cannot accurately assess risk right now; Monevo explains, “we’re seeing two key themes play out since the outbreak of the virus; a significant reduction in the demand for personal loans combined with a contraction in the supply of credit across nearly all lenders.”; Monevo Founder and CEO says we are in a perfect storm across the world for both lenders and consumers; Australia has seen the least amount of disruption thus far with lenders only starting to tighten credit standards; as governments ramp up funding to ease the pain there has been a lot of talk about online lenders being left out of the mix and that more needs to be done to save these companies. CrowdFund Insider

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.