Online lender definition

Online lender means a lender exclusively supplying payday loans via a website or other internet-based platform or the part of a lender’s business that supplies payday loans via a website or other internet-based platform;
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Examples of Online lender in a sentence

  • Credit sources applied to% of loan, line of credit, and cash advance applicantsLarge bank 49% Small bank 44% Online lender 32% Credit union 9% For purposes of this report, applicants are divided into three categories: Traditional lender only firms that applied for financing at only traditional sources(banks and credit unions);Online lender only firms that applied for financing at only online lenders; and Both traditional and online firms that applied at both traditional and online sources.

  • Application rate at source type, by credit risk■ Traditional lender only ■ Both traditional and online ■ Online lender onlyLow credit risk N=1,04880%13% 7% Medium credit risk N=59846% Note: Percentages may not sum to 100 because of rounding.

  • Application rate at source type, by age of financial decisionmaker■ Traditional lender only ■ Both traditional and online ■ Online lender only Hispanic N=179 56% 28% 17% Under 36 N=14969% 20% 12% 36–45 N=41565% 26% 9% Note: Percentages may not sum to 100 because of rounding.

  • Application rate at source type, by firm age10%68%■ Traditional lender only ■ Both traditional and online ■ Online lender only 0–2 years N=33618%26%56%3–5 years N=344 13%31%55%6–10 years N=404 13%22%65%11–15 years N=291 15%12%74%16–20 years N=204 8%13%79%21+ years N=688 Note: Percentages may not sum to 100 because of roundingSmaller firms have higher application rates at online lenders.Small businesses with annual revenues of $1M or less are more likely than larger small firms to apply at online lenders.

  • Sources at which applicants sought funding% of loan, line of credit, and cash advance applicants 12%22%66%■ Traditional lender only■ Both traditional and online■ Online lender onlyN=2,379Note: Loan, line of credit, and merchant cash advance applications for employer firms.

  • Online lender applicants were least satisfied, as net satisfaction with online lenders declined from 37% in 2019 to 25% in 2020.

  • Online lender training modules are available on the Lender Training webpage of the USDA LINC Training and Resource Library.

  • PERFORMANCE MONITORING PROCESS: The University shall monitor processes regarding this contract to ensure that the results, objectives and obligations of the contract are met.

Related to Online lender

  • Swingline Lender means JPMorgan Chase Bank, N.A., in its capacity as lender of Swingline Loans hereunder.

  • Swing Line Lender means Bank of America in its capacity as provider of Swing Line Loans, or any successor swing line lender hereunder.

  • U.S. Swingline Lender means JPMorgan Chase Bank, N.A., in its capacity as lender of U.S. Swingline Loans hereunder.

  • Swingline Lenders means JPMorgan Chase Bank and any other Lender that agrees to act as a Swingline Lender, each in its capacity as a lender of Swingline Loans hereunder.

  • Swing Line Lenders means each of the Lenders that has a Swing Line Commitment on Schedule 2.1 hereto, or any successor swing line lender hereunder.

  • U.S. Swing Line Lender means Bank of America in its capacity as provider of U.S. Swing Line Loans, or any successor swing line lender hereunder.

  • Canadian Swingline Lender means JPMorgan Chase Bank, N.A., Toronto Branch, in its capacity as lender of Canadian Swingline Loans hereunder.

  • Swing Lender means Xxxxx Fargo or any other Lender that, at the request of Borrowers and with the consent of Agent agrees, in such Lender’s sole discretion, to become the Swing Lender under Section 2.3(b) of the Agreement.

  • LC Issuer means Bank of America in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.

  • Swing Line Bank has the meaning specified in the recital of parties to this Agreement.

  • Letter of Credit Issuer means such successor or such new issuer of Letters of Credit effective upon such appointment. At the time such resignation or replacement shall become effective, the Borrower shall pay to the resigning or replaced Letter of Credit Issuer all accrued and unpaid fees pursuant to Sections 4.1(c) and 4.1(d). The acceptance of any appointment as a Letter of Credit Issuer hereunder whether as a successor issuer or new issuer of Letters of Credit in accordance with this Agreement, shall be evidenced by an agreement entered into by such new or successor issuer of Letters of Credit, in a form satisfactory to the Borrower and the Administrative Agent and, from and after the effective date of such agreement, such new or successor issuer of Letters of Credit shall become a “Letter of Credit Issuer” hereunder. After the resignation or replacement of a Letter of Credit Issuer hereunder, the resigning or replaced Letter of Credit Issuer shall remain a party hereto and shall continue to have all the rights and obligations of a Letter of Credit Issuer under this Agreement and the other Credit Documents with respect to Letters of Credit issued by it prior to such resignation or replacement, but shall not be required to issue additional Letters of Credit. In connection with any resignation or replacement pursuant to this clause (a) (but, in case of any such resignation, only to the extent that a successor issuer of Letters of Credit shall have been appointed), either (i) the Borrower, the resigning or replaced Letter of Credit Issuer and the successor issuer of Letters of Credit shall arrange to have any outstanding Letters of Credit issued by the resigning or replaced Letter of Credit Issuer replaced with Letters of Credit issued by the successor issuer of Letters of Credit or (ii) the Borrower shall cause the successor issuer of Letters of Credit, if such successor issuer is reasonably satisfactory to the replaced or resigning Letter of Credit Issuer, to issue “back-stop” Letters of Credit naming the resigning or replaced Letter of Credit Issuer as beneficiary for each outstanding Letter of Credit issued by the resigning or replaced Letter of Credit Issuer, which new Letters of Credit shall be denominated in the same currency as, and shall have a face amount equal to, the Letters of Credit being back-stopped and the sole requirement for drawing on such new Letters of Credit shall be a drawing on the corresponding back-stopped Letters of Credit. After any resigning or replaced Letter of Credit Issuer’s resignation or replacement as Letter of Credit Issuer, the provisions of this Agreement relating to a Letter of Credit Issuer shall inure to its benefit as to any actions taken or omitted to be taken by it (A) while it was a Letter of Credit Issuer under this Agreement or (B) at any time with respect to Letters of Credit issued by such Letter of Credit Issuer.

  • Administrative Agent means Bank of America in its capacity as administrative agent under any of the Loan Documents, or any successor administrative agent.

  • Swing Loan Lender means PNC, in its capacity as lender of the Swing Loans.

  • Issuing Lender means WFCF or any other Lender that, at the request of Borrower and with the consent of Agent, agrees, in such Lender’s sole discretion, to become an Issuing Lender for the purpose of issuing Letters of Credit or Reimbursement Undertakings pursuant to Section 2.11 of the Agreement and the Issuing Lender shall be a Lender.

  • Revolving Administrative Agent has the meaning assigned to such term in the preamble of this Agreement.

  • Term Loan Administrative Agent means the administrative agent under the Term Loan Agreement

  • Revolving Credit Lender means, at any time, any Lender that has a Revolving Credit Commitment at such time.

  • Swingline Bank means JPMCB, in its capacity as lender of Swingline Advances hereunder.

  • Revolving Lender means a Lender with a Revolving Commitment or, if the Revolving Commitments have terminated or expired, a Lender with Revolving Exposure.

  • Farm Credit Lender means a lending institution organized and existing pursuant to the provisions of the Farm Credit Act of 1971 and under the regulation of the Farm Credit Administration.

  • Fronting Lender means, as to any Letter of Credit transaction hereunder, Agent as issuer of the Letter of Credit, or, in the event that Agent either shall be unable to issue or shall agree that another Lender may issue, a Letter of Credit, such other Lender as shall agree to issue the Letter of Credit in its own name, but in each instance on behalf of the Lenders hereunder.

  • Term Administrative Agent shall have the meaning set forth in the recitals hereto.

  • L/C Lender a Lender with an L/C Commitment.

  • Lead Lender means a lending insti- tution having a direct contractual rela- tionship with a borrower to advance funds, which institution sells or as- signs an interest or interests in such loan to one or more other lenders.

  • Selling Lender has the meaning specified in Section 11.7 (

  • Canadian Administrative Agent means JPMorgan Chase Bank, N.A., Toronto Branch, in its capacity as Canadian administrative agent for the Lenders hereunder.