Author Topic: LC Business Loans  (Read 7606 times)

RazzleDazzle

  • Jr. Member
  • **
  • Posts: 71
    • View Profile
    • reamerge.com
Re: LC Business Loans
« Reply #15 on: February 17, 2015, 05:23:21 PM »
Process is similar to Funding Circle, Kabbage or any other platform that does unsecured small business loans

Except Kabbage captures the merchant's bank data via yodlee, not paper statements like it's 1992. Funding Circle does a full manual human underwrite just like a bank would. LC's business loan underwriting is worse than both by a longshot.

Good to know, I will give them a call once they do make the business loans available, but for now will definitely keep allocating to Funding Circle, they have a great team and solid framework (although they are only slowly and painfully getting up the learning curve on the technology side).

using Yodlee for merchant bank data etc is nothing new - all business lending platforms are doing this (Dealstruck, P2Binvestor, Reamerge etc). It's just a way to automate your underwriting. Rawraw can back this up but to investors, proper solid underwriting of business loans and risk mitigation is what should matter. Underwriting could be the most sophisticated/automated, but part of it will always be manual and SHOULD be manual. No amount of "social graph or API" can replace borrower due diligence/evaluation within a committee (community banks do it this way for bigger loans)

alexbryanusa

  • Newbie
  • *
  • Posts: 1
    • View Profile
    • Email
Re: LC Business Loans
« Reply #16 on: March 17, 2015, 04:24:48 PM »
try to get info about business loans from usacapitalbusinessloans.com