News > After Early Boom, Fintech Lending Startups Face A Reality Check

After Early Boom, Fintech Lending Startups Face A Reality Check

Fintech lending startups were one of the biggest beneficiaries of the COVID-19 pandemic as business boomed when people facing business distress or coping with a job loss scrambled for loans. Now, as the year draws to a close, these lenders are the ones in distress, scrambling to offer those same customers restructured options as defaults rise.

The lending startups have also come under scrutiny due to alleged harassment of borrowers, which has resulted in deaths.