CircleBack Lending
CircleBack Lending is an online, personal loan lender located in Boca Raton, FL that offers unsecured loans to borrowers with prime and super prime credit ratings. It was founded in 2012 by Michael Solomon and Todd Walters[1] and has raised a billion dollars in capital to make loans through agreements with Jefferies and Pine River Capital Management.[2][3]
The company offers loan amounts between $3,001 and $35,000.[4] They are different than traditional, peer to peer lenders like Prosper and Lending Club, in that they only fund loans in partnership with institutional investors.[5]
To date, the company has issued more than $200 million in loans to borrowers,[6] $106 million of which was securitized in June 2015.[7]
History[edit]
In September 2014, the company announced it had secured a $500 million investment from Jefferies to make loans, which at the time was the largest single investment in marketplace lending from any single source.[8]
References[edit]
- ↑ Renton, Peter (4 February 2013). "Former Loanio Founder Back With a New P2P Lender". Lend Academy. Lend Academy. Retrieved 25 August 2015.
- ↑ Renton, Peter (23 September 2014). "CircleBack Lending Secures a $500 Million Investment from Jefferies". Lend Academy. Lend Academy. Retrieved 25 August 2015.
- ↑ Clements, Nick (17 September 2015). "CircleBack Lending Raises $17.4 Million: The Marketplace Revolution Continues". Magnify Money. Magnify Money. Retrieved 18 September 2015.
- ↑ "CircleBack Lending Homepage". CircleBack Lending. Retrieved 26 August 2015.
- ↑ John, Roberts (4 February 2013). "Former Loanio Execs Return to Peer Lending, With Institutional Investor Focus". Bloomberg Business. Bloomberg LP. Retrieved 26 August 2015.
- ↑ Clements, Nick (17 September 2015). "CircleBack Lending Raises $17.4 Million: The Marketplace Revolution Continues". Magnify Money. Magnify Money. Retrieved 18 September 2015.
- ↑ Gormley, James (26 June 2015). "CircleBack Lending Completes its First Securitization of $106 Million in Consumer Loans". Yahoo Finance. Yahoo. Retrieved 26 August 2015.
- ↑ Renton, Peter (23 September 2014). "CircleBack Lending Secures a $500 Million Investment from Jefferies". Lend Academy. Lend Academy. Retrieved 25 August 2015.
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