Type Private Area served United States | Industry Financial Technology Services Loan Financing | |
Founder Tabitha Creighton
Lisa Ohman Headquarters 114 W. Magnolia Street, Suite 400, Bellingham, Washington 98225, United States | ||
Invest Next Door is an online marketplace that enables accredited investors to provide loan financing directly to small and medium-sized enterprises in the United States. A peer to business financial platform was launched in May 2014 allowing businesses to create listings where they set rates and terms that investors can then bid upon.
Contents
Background
Tabitha Creighton and Lisa Ohman are the founders of Invest Next Door, the first community-focused online peer to business investment marketplace. Prior to InvestNextDoor, Tabitha spent several years working at Microsoft advising small and large companies on the use of technology.Lisa ran the Strategic Initiatives department at Active Network - a public software company recently acquired by Vista Equity Partners.
Services
InvestNextDoor is a crowdlending marketplace where investors directly lend to small businesses within their community. Instead of loans being issued through an intermediary, businesses use promissory notes for the borrowing contract with the investors.
Business Model
On the platform, small businesses create listings including how much they want to borrow and investors bid auction-style on the rate and amount they’re willing to invest. Once approved, Businesses pay a Listing fee and Service Fee. Investors pay $25 per investment.
Awards and Recognition
InvestNextDoor won the inaugural Outerwall Civic Venture Award for its efforts in working to drive positive change in local communities.