Palm Beach, FL – November 3, 2022 – FinancialNewsMedia.com News Commentary – The Debt Financing market has been growing in recent years during the pandemic and is expected to continue to grow and thrive in the coming years at a substantially increasing pace. The Debt Financing is a technical term for borrowing money from an outside source with the promise to return the principal plus the agreed-upon. Debt Financing is offered by banks, financial institutions, NBFCs in form of secured and unsecured bonds, & loans. One of the biggest benefits of debt financing is that borrower won’t be giving up his/her ownership of the business. Other advantage of debt financing are low interest rates, tax deduction benefits. A report from ResearchAndMarkets projected that the debt financing market is poised to grow by $16.17 bn during 2022-2026, accelerating at a CAGR of 9.66% during the forecast period. It added: “The market is driven by tax-deductible debt interest costs, preserves company ownership, and lower interest rates… This study identifies the increasing collaboration and mergers and acquisitions as one of the prime reasons driving the debt financing market growth during the next few years. Also, the availability of several ways to approach debt financing and surge in demand from APAC will lead to sizable demand in the market.” Active companies in the markets this week include Mill City Ventures III, Ltd. (NASDAQ: MCVT), Affirm (NASDAQ: AFRM), LendingClub Corporation (NYSE: LC), OneMain Holdings, Inc. (NYSE: OMF), Goldman Sachs Group, Inc. (NYSE: GS).
Another report by Report Ocean on MarketWatch said: “The rising penetration of digital lending solutions and increasing adoption of debt financing due to low insurance cost as well as strategic initiatives from leading market players are factors that are accelerating the global market demand. For instance, according to Statista – in 2019, Digital lending in India was estimated at USD 110 billion, and the digital lending market is projected to grow to USD 350 billion by 2023. Furthermore, leading market players are working towards collaborations and co-lending agreements to capitalize the growing demand for Debt Financing. Also, growing emergence of NBFCs & Fintech Start-ups and increasing expansion of private lending sources are anticipated to act as a catalyzing factor for the market demand during the forecast period (of 2022-2028).”
Mill City Ventures III, Ltd. (NASDAQ: MCVT) BREAKING NEWS: Mill City Funds $855,000 Short-Term Insurance Settlement – Mill City Ventures III, Ltd. (“Mill City” or the “Company”) announced today its funding of a settled insurance claim in the amount of $855,000. The related short-term note is expected to mature in 120 days and involve an annualized return of 33.5%.
Mill City Chief Executive Officer, Douglas M. Polinsky, said, “This latest closing is one more example of our ability to profitably service a growing need in the financing markets. With rising inflation and rapidly rising interest rates, borrowers are facing an increasing number of hurdles to clear in their efforts to access capital on a short-term basis. There continues to be a large funding gap between the needs of small- and medium-sized businesses and the institution-based financing available to them. Our ability to quickly create financing solutions for a variety of needs is proving to be a significant growth engine for Mill City Ventures.” CONTINUED… Read the Mill City Ventures full press release by going to: https://www.millcityventures3.com/press-releases
Additional recent developments in the markets this week include:
Newegg Commerce, Inc. (NEGG), a leading global technology e-commerce retailer, and Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, recently announced the expansion of their partnership into Canada, bringing increased payment flexibility and transparency to customers shopping on Newegg.ca. Eligible customers can now use Affirm to pay over time for their purchases on Newegg.ca. Newegg has been offering Affirm to its U.S. customers since 2021.
Similar to Newegg’s U.S. e-commerce site, Newegg.ca customers who select Affirm as a payment option at checkout will go through a quick and free soft credit check that won’t impact their credit score. In seconds, Affirm’s technology will determine available payment options for each customer. If approved, eligible customers will be able to split their purchases of $100 CAD or more. From the start, eligible customers will know how many payments they have and when they’ll be done paying. Even if they’re late or miss a payment, a customer’s total payment amount will not increase. They will also not be charged a late or hidden fee.
LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s leading digital marketplace bank, has ranked No. 6 among Utah’s Large Companies on the 2022 Utah Top Workplaces award list. The list is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage LLC. The anonymous survey uniquely measures 15 culture drivers that are critical to the success of any organization, including alignment, execution, and connection, just to name a few.
“We are thrilled to be named a Top Workplace for the fourth year in a row in Lehi,” said Tina Wilson, Chief People Officer. “This is a testament to our employees and the commitment they show every day as they help our members on their journeys toward financial health.”
OneMain Holdings, Inc. (NYSE: OMF), the leader in offering nonprime customers responsible access to credit, recently reported pretax income of $250 million and net income of $188 million for the third quarter of 2022, compared to $376 million and $288 million, respectively, in the prior year quarter. Earnings per diluted share were $1.52 in the third quarter of 2022, compared to $2.17 in the prior year quarter.
On October 26, 2022, OneMain declared a quarterly dividend of $0.95 per share, payable on November 14, 2022, to record holders of the Company’s common stock as of the close of business on November 7, 2022. During the quarter, the Company repurchased approximately 1.2 million shares of common stock for $42 million.
“OneMain has built a resilient business, anchored in world-class underwriting, a fortress balance sheet and a deep commitment to our customers,” said Doug Shulman, Chairman and CEO of OneMain. “While we remain cautious, we also feel confident in our ability to navigate this environment and position our business for long-term, superior performance.”
Qontigo, a leading provider of innovative risk, analytics, and index solutions, recently announced an expanded collaboration with Goldman Sachs Group, Inc. (NYSE: GS), a leading global investment banking, securities, and investment management firm. Qontigo will now offer the Axioma Portfolio Optimizer™ and Axioma Equity Factor Risk Models through Goldman Sachs Financial Cloud for Data, a suite of modular data management and analytics solutions, as well as Goldman Sachs Marquee, the firm’s digital platform that delivers market-leading data, analytics, market insights and trading solutions to institutional investors.
Prior to this expanded partnership, Marquee’s institutional client base had access to select capabilities of Axioma’s Risk Models and Optimizer. Now, clients can take advantage of Qontigo’s extensive optimization features and an expanded suite of Axioma risk models seamlessly integrated in their investment platform.
“Offering our clients best-in-class solutions that enable them to measure day-to-day changes in risk and understand how these affect their portfolios is a strategic focus for us. Embedding the Axioma suite of Equity Factor Risk Models, including the new and timely Axioma US Trading Horizon Model, into our ecosystem will provide our clients with insights into their drivers of risk and return. Coupling this with the robust Optimizer will help them implement investment decisions more efficiently,” said Anne Marie Darling, Head of Marquee Client Strategy & Distribution at Goldman Sachs.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated twenty five hundred dollars for news coverage of the current press releases issued by Mill City Ventures III, Ltd. by a non-affiliated third party.
FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Media Contact email: firstname.lastname@example.org – +1(561)325-8757