Goldman Sachs Faces Doubts About Loss Rates at New Online Lender
- Marcus is targeting consumers as many brace for a downturn
- Bank aims to produce $1 billion of revenue growth from push
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As Goldman Sachs Group Inc. lends more money to Main Street, one question won’t go away: How many borrowers will pay them back?
Goldman’s fledgling online lender Marcus, named after the company’s founder, is targeting consumers at a time when many are bracing for a downturn after eight years of economic expansion. A recent example it gave suggests the firm expects loan losses to be lower than what some rivals are seeing, and half of what many credit-card lenders experienced the last time the economy went south.