SoFi Stock Is Having a Good Week. Lending Is Gaining Traction Again.
In this article:
For a long time, lending was SoFi’s crown jewel. Earlier this month, SoFi announced a $2 billion deal for personal loans with funds managed by affiliates of investment-manager Fortress Investment Group LLC. “The agreement will expand SoFi’s capabilities in its loan-platform business, where the company refers prequalified borrowers to loan-origination partners as well as originates loans on behalf of third parties,” the company said in a news release.