LendItFintech In Photos and Sound Bites
April 10, 2018
when speaking about the increase in mortality rate for people who have faced major financial distress
when interviewed on stage by Bloomberg’s Selina Wang
when interviewed by Jo Ann Barefoot
When asked by Bloomberg Technology reporter Emily Chang if Goldman Sachs would be considered a competitor
when interviewed by Lendio’s Brock Blake
When asked who will win the race for marketshare
When asked if it’s harder to underwrite loans above $50,000
talks business at the company booth
Below: Ocrolus account executive John Lowenthal stands in front of the company booth
Lendr Launches New Business Debit Card
April 9, 2018
Chicago-based Lendr is launching a new business debit card program, according to an announcement the company made at LenditFintech.
This will give them the ability to fund business owners in real-time via an instant access virtual Mastercard followed up with a traditional plastic card. This system is different than pushing funds to a merchant’s existing bank debit card, which fellow online lenders Kabbage and LendingPoint announced at LendIt.
“The idea is to offer a product that makes access to capital as easy as ‘1-2-3,’” CEO Tim Roach told AltFinanceDaily. “We will have the ability to deposit funds on the Mastercard in real time, making the process seamless for our clients.”
BFS Capital Secures $175M Revolving Line
February 20, 2018
BFS Capital has secured a new $175 million revolving credit facility from funds managed by Ares Management, L.P. (NYSE:ARES), according to a company announcement. Stephens Inc. acted as financial advisor to the transaction.
ARES is one of the largest global alternative asset managers with $106.4 billion under management. They previously announced a $100 million line for LendingPoint, an online consumer lender.
BFS Capital also recently announced that 2017 was their biggest year yet. They generated more than $300 million in originations for the year.
BFS Capital plans to use the new facility to accelerate the growth of its lending business.
“The market continues to appreciate our small business customer focus,” said BFS Capital CEO Michael Marrache in a prepared statement. “Our strategic partners, such as ISOs, also commend us for our data and underwriting expertise—based on 15 years of financings across multiple economic cycles—which enables us to better anticipate the future performance of our financings.”
