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NEW YORK, Jan. 31, 2017 -- Credibility Capital Inc., a technology-enabled lending platform, today announced that it successfully sold a pool of whole loans in a transaction employing Orchard technology. A regional bank was the buyer. It is the first use of this kind of technology within the online lending space.
Credibility Capital matches businesses with fair, affordable monthly-pay loans from institutional investors, including banks with loan-to-deposit ratio issues and CRE-to-C&I ratio issues. Loans ranging in size from $10,000-$350,000 are offered at rates starting at 7.99%. The bank funding model permits Credibility Capital to make low-APR loans to the highest-quality companies; Credibility Capital’s proprietary referral platform provides financing options to other small businesses.
Orchard data, technology, and software powers the many interactions between loan originators and institutional investors. Credibility Capital used Orchard’s interactive software to share and affirm the data of a seasoned loan portfolio with the regional bank buyer.
“Orchard provided a seamless software solution that improved the process for both sides of the transaction,” said Brett Baris, Chief Executive Officer of Credibility Capital. “With Orchard’s new tool we were able to easily share vast amounts of loan data with our client on a single, easy-to-use platform. Demonstrating liquidity greatly enhances our ability to continue to attract institutional capital, allowing us to fund more U.S. businesses.”
“We have a great relationship with the team at Credibility and that continually informs us and keeps us focused on building solutions that help them achieve their goals,” said Matt Burton, CEO of Orchard. “Anytime we can help loan originators and institutional buyers interact more efficiently using quality data in a simple, transparent way, it’s exciting for us.”
About Credibility Capital Inc.
Credibility Capital Inc., a 2017 LendIt Finalist for Best Emerging Small Business Platform, is a small business lender partnered with Dun & Bradstreet and focused on prime small business borrowers. The Company's platform matches institutional investors with high quality small businesses interested in fair, affordable monthly-pay loans from $10,000 to $350,000. With rates starting at 7.99% and an easy application process and transparent terms, Credibility Capital is working to help American small businesses grow. For more information, visit http://www.CredibilityCapital.com.
Media contact: Angela Smith 781.966.4172 [email protected]
