Type Private Website LendingPoint Founded September 2014 | Key people Tom Burnside, CEO Headquarters Kennesaw | |
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Genre Financial Services (FINTECH) Products Personal Installment Loans for Fair Credit Consumers Motto Better Loans. Better Lives | ||
LendingPoint, an online direct lender, utilizes a proprietary predictive-analytics model to offer short-term personal loans through its cloud-based platform as a nontraditional lender.
Operations
LendingPoint has successfully used Cloud Lending’s end-to-end lending solution as a foundation to go from concept to market in less than ninety days. LendingPoint’s loan processing platform is built natively on Salesforce.com. LendingPoint provides consumer loans ranging from $3,500 to $20,000.
LendingPoint signed a $100 million credit facility with funds managed by the Tradable Credit and Direct Lending groups of Ares Management. Ares Management is a publicly traded, global alternative asset manager with approximately $88 billion of assets under management as of June 30, 2015.