The company intends to use the funds to accelerate its growth as well as continue its development and enhancement of new product features.
Led by Camilo Concha, Founder and CEO, LendingUSA is a point-of-sale (POS) fintech company that offers merchants a financing solution with access to instant pre-approval decisions, promotional financing terms and low monthly payment options.
Loans offered range from $1,000 up to $35,000 with low monthly payments.
They are made by Cross River Bank, a New Jersey state chartered bank, Member FDIC)
Since inception, the company has grown to over 7,800 merchant clients nationwide and has processed over $2 billion in borrower loan requests.