LendingPoint, a Kennesaw, GA-based consumer credit company, closed an up to $600m committed credit facility.
It was arranged by Guggenheim Securities, the investment banking and capital markets division of Guggenheim Partners.
With this new deal, the company has secured up to $1.1 billion of senior credit financing in less than one year.
Led by Tom Burnside, co-founder and CEO, LendingPoint has developed proprietary risk models that use dozens of APIs to gather thousands of data points on each applicant, to get a more complete financial picture of the customer and to approve more people who otherwise may have been overlooked by traditional FICO results. While the company lends to individuals across the credit-score spectrum, from 580 to 850, it focuses on NearPrime borrowers.
Its direct to consumer online loans range from $2,000 to $26,500 with terms of 24 to 48 months. Its point-of-sale loans range from $500 to $15,000, with terms from 12 to 60 months. Since it issued its first loan in 2015, LendingPoint has originated more than 50,000 loans totaling in excess of $500 million.
FinSMEs
17/05/2018