NEW YORK--(BUSINESS WIRE)--Funding Wonder, Inc., a social lending community that brings together investors and small businesses seeking loans, today announced the public launch of its service. This milestone was marked by the filling of the first small business loan on the Funding Wonder marketplace.
Funding Wonder had a soft launch in September of 2014 and since then has built a qualified small business loan pipeline of over $5 million and anticipates that number will expand to $50 million in the next twelve months. This growth will be driven by lending to franchise businesses. The Company has entered into agreements directly with franchisors, and with dedicated channel partners who work with top franchises across the country.
Franchise brands are pre-qualified by Funding Wonder in order to provide a fast and efficient financing alternative for their franchisees. Qualified borrowers seeking $50,000 to $200,000 for start-up expenses or expansion capital post their loans on the Funding Wonder marketplace. Individual and institutional investors can then bid to fill these loans at rates that are attractive to them.
“Franchise lending represents $30 billion annually in the United States but businesses seeking loans under $200,000 are underserved by traditional financial institutions,” said Funding Wonder CEO Michael Mildenberger. “This provides a great opportunity for investors who want solid fixed income returns.”
“High quality franchisors carefully vet their prospective franchisees and employ proven business models, yet it is often difficult for these new businesses to receive the financing they need in a timely manner,” said Paul Bosley, Managing Member of Business Finance Depot. “Funding Wonder offers franchisees an alternative source of capital to finance their new business quickly.”
About Funding Wonder
FUNDING WONDER, Inc. is an online Social Lending Community that connects established small and medium businesses looking for loans with investors seeking good returns. The Company was founded in 2013 and has offices in New York, San Francisco and Miami.
99% of all businesses are categorized as small and medium businesses with under 500 employees. They are the lifeblood of the US economy and the greatest source of jobs. Yet they often don’t have access to capital because traditional lenders have shied away from small business loans. Investors, in turn, are looking for reliable alternatives to bonds and equities that offer a fixed interest rate with higher yields. Funding Wonder brings together quality businesses looking for growth capital with investors looking for better returns, in a trusted, easy to use lending marketplace. Visit Funding Wonder on the web at www.fundingwonder.com.