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There are ‘signs of life’ in small-business loans, LendingTree CEO says
- More consumers are shifting online in pursuit of loans, LendingTree CEO Doug Lebda told CNBC.
- He said one of the company’s fastest-growing segments is small-business loans.
- Home equity is also coming back, he noted.
More consumers are shifting online in pursuit of loans, LendingTree CEO Doug Lebda told CNBC on Tuesday — and one of the company’s fastest-growing segments is small-business loans.
“It’s very, very small, but the signs of life are happening. We’re going to start to standardize small-business loans. Second to mortgages 20 years ago when I started LendingTree, it’s probably the biggest opportunity for people to save money,” he said in an interview with “Closing Bell.”
Regulations imposed after the 2008 financial crisis made it harder for small businesses to get a loan, but President Donald Trump has promised to roll back some of those rules.
However, borrowing by small U.S. firms stalled in March, as business owners remained cautious about investing amid policy uncertainty, according to data released earlier in May.