Atlanta-Based FinTech Direct Lender Releases 2015 Growth Data

LendingPoint Sees Burgeoning Demand in Consumer Credit Lending Market

KENNESAW, Ga.--()--LendingPoint, a market leading FinTech direct loan provider, has released data on its first full year in business, showing its groundbreaking approach and innovative customer offerings are redefining the lending environment for fair credit consumers. To date, the company has funded approximately $20 million in loans and processed 65,000 loan applications, with 12,000 of those processed last month alone. This expansion took place while the company defined, refined and perfected its proprietary scoring models and received unprecedented funding, garnering the attention of investors and FinTech leaders across the lending industry.

Fulfilling a pressing need for loans to fair credit consumers, the company significantly expanded operations in its first year and was quickly recognized as the leading industry innovator with its proprietary scoring model, next-generation technology, quick loan approval process, and focused customer experience. In its inaugural year, LendingPoint has increased its maximum loan size from $15,000 to $20,000 and has received more than $105 million of additional funding capacity with industry leaders Ares Management and Aeterna Capital Partners, in addition to $26 million raised through sub-debt and equity.

Frank Fatras, Chief Technology Officer of LendingPoint, says, “We knew there was a high demand for loans to fair credit consumers, so we got up and running in 90 days. In our first year, we perfected our process, validated our models, and scaled the business to serve the needs of fair credit consumers. We’re honored to support fair credit consumers on their way up.”

Tom Burnside, CEO of LendingPoint, says, “I’m proud of our ability to tell a story about and serve the fair credit consumer in a unique way. We’ve leveraged nontraditional data to enhance the predictive power of our models, resulting in offering more fair credit customers access to even better loan terms. Based on our 2015 progress, we’re poised for aggressive growth, expanding our reach to more than 50 percent of the U.S. population by mid-year and all states by year-end.”

About LendingPoint

Atlanta-based LendingPoint, a leading FinTech direct loan provider, is on a mission to create a fairer lending environment by helping fair credit consumers unlock access to affordable loans. Their award-winning leadership team holds intellectual patents for unique data modeling and credit scoring.

Contacts

For LendingPoint
Lynn Harris Medcalf, 404-433-7620
lynnharrismedcalf@gmail.com

Release Summary

Market leading FinTech direct loan provider LendingPoint has released its first-year data, showing its groundbreaking approach are redefining the lending environment for fair credit consumers.

Contacts

For LendingPoint
Lynn Harris Medcalf, 404-433-7620
lynnharrismedcalf@gmail.com