Three senior managers have also resigned or were fired in connection with the internal probe, the company said.
The company's shares fell as much 42 percent to a record low of 5 cents in early morning trading.
Every rejection is an opportunity to learn more about what will make your next loan application get approved.
Small Business Loans
Be careful before entering into business arrangements with loan brokers, consider if their interest is aligned with yours.
The move puts it in competition with other small business lenders such as OnDeck Capital.
(Mostly) good things happen when you help employees get this financial weight off their backs.
After originally offering $10,000 to couples who remained married, SwanLuv changed its model to a crowdfunding platform.
Ever consider that entrepreneurship is the answer to that crippling monthly debt?
First off, be proactive. The best time to think about cash flow is before you have a need.
There are some simple tricks you can use to weed out the bad apples and ensure you get a fair deal on your financing.
Small Business Financing
If you're a cautious and diligent borrower, a short-term loan could be just what you need to push your small business in the right direction.
Because of a long-forgotten federal law, students may have a new, possibly short-lived, debt-forgiveness plan.
Small businesses are cashing in from corporate loans and grants.
'Paypal causes a cash-flow crisis and then offers to fix it,' writes Casey Rosengren, founder of Hacker Paradise.
Often borrowed from a bank, credit union or private agency,
loans help entrepreneurs and business owners start or sustain businesses by lending a sum of money that is paid back with interest. Raising enough capital is key for an entrepreneur looking to start his or her own business. There are a number of loans available so understanding which type of loan is best for a business is crucial.
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© 2017 Entrepreneur Media, Inc.