Early alternative lending businesses were important but incomplete, and they have struggled recently as a result. LQD has internalized those lessons into a strong and sustainable business model," i was reading this said George Souri, its CEO and founder. "Besides our strong new loan performance, we expanded operations with a new website and key hires, and we are positioned to scale our business." Looking ahead, Souri said LQD anticipates growing its origination run rate to $80 million by the end of 2017 and to more than $200 million over the next 24 months, largely by expanding its data-driven lead generation and targeting the $200 billion market of prime and near-prime loans between $250,000 and $2 million. That market is underserved by both banks and existing alternative lenders. Additionally, LQD is in partnership talks with several banks interested in the company's underwriting platform. Sustaining Substantial Financial Growth LQD Business Finance uses sophisticated technology to make the loan process more efficient without compromising underwriting quality. "Many of the early alternative lenders were technology companies trying to do credit. We are credit and finance people using technology to make us better at our core competency, and the markets are reacting very positively to our approach," says Souri. LQD closed a $30 million credit facility with Route 66 Ventures and a $4 million Series A round with Fintech Ventures Fund. LQD is in the process of closing another $100 million credit facility and a follow-up equity round.
Probably most significantly, you may have to report to the lending company that you no longer have a consigner to cover you in case of default. They give you the option of extending your loan for another month once it is payable. The lenders have a great risk on their money as then borrower has severely chequered credit score and no security is kept. If you need quick money but feel embarrassed to ask from a friend, relative or parents then what should be the alternative. Depending on your situation it may be possible to do other things to help make up for the issues in your financial history so that you can be approved for financing. If you have made recent efforts to improve your credit history you should briefly point this out to a lender so that they can take into consideration that your circumstances have changed. Is there an annual fee, a cash transfer fee, late fees, stiff penalties, etc.?
Therefore, they have to take steps to confirm the accuracy of the clients information. Registered mortgage is the safest form of mortgage. You probably asking what the catch to this is? What I'm about to reveal to you have until now! its like the search for the Holy Grail. Normally, banks prefer to have the first charge on a property.