is getting its largest-ever capital commitment with a new partnership from private-credit firm Sixth Street, which is investing in $4 billion worth of loans over the course of three years.Sixth Street is committing capital upfront for Affirm to underwrite short-term installment loans – between 4- to 6-month timeframes. Once paid back, the capital rolls back into the pot to make more loans — amounting to more than $20 billion that could be extended over the three years of the partnership.
As private credit has exploded in recent years, alternative-asset managers are increasingly looking at non-bank, fintech companies to invest capital. And the fintech firms are opting for what they see as more-efficient sources of financing that can scale up or down based on the demand from their end users.
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nordstrom tops Wall Street's earnings expectations, as shoppers buy more clothes and shoesNordstrom on Tuesday delivered a slightly rosier sales forecast, after revenue grew about 4% year over year as shoppers bought clothing, shoes and activewear at…
Read more »