Company Research Report: LendingUSA
Company Overview
Name: LendingUSA
Mission: To help people finance the important moments in life. LendingUSA’s point-of-sale platform was designed with important moments in mind, with ease-of-use and an excellent experience always as top priorities.
Founded: 2015
Founder: CEO Camilo Concha
Key People:
- Camilo Concha, CEO
Headquarters:
15303 Ventura Blvd, Suite 850
Sherman Oaks, CA 91403
Number of Employees: No information is available.
Revenue: No information is available.
Known For:
- Point-of-sale consumer financing solutions
- Providing easy-to-use solutions for both borrowers and merchants
- Focus on niche industries like chiropractic, cosmetic, pet, funeral, and tax services
Products
Point-of-Sale Consumer Financing Solutions
Overview:
LendingUSA offers a proprietary point-of-sale consumer financing platform designed for ease-of-use for both merchants and borrowers. The platform focuses on increasing approval rates, reducing fees, and speeding up the funding process.
High-Level Description:
- Merchant Financing for Customers: This platform offers point-of-sale financing solutions for customers of various merchants.
- Industries Served: Chiropractic, cosmetic, pet, funeral, and tax services.
Key Features:
1. Lower Merchant Fees: No fees for sign-up or membership. Promotional financing is included at no extra cost.
2. More Approvals: Higher ticket goods and services approved in various industries.
3. Instant Pre-Approval Decisions: Proprietary technology for on-the-spot decisions without impacting the borrower’s credit score.
4. Faster Funding: Businesses are paid within days of the borrower signing the contract.
Recent Developments
Recent Developments:
1. Introduction of FastScreen™: A customer prescreen tool for the funeral home industry in partnership with TransUnion.
2. 1% Earning Program for Funeral Partners: Introduced to provide additional value to funeral service partners.
3. Partnership with Live Oak Bank: Aimed at better serving funeral homes.
New Products Launched:
- FastScreen™: A tool to facilitate loan pre-qualification.
New Features Added to Existing Products:
- No information is available.
New Partnerships:
1. TransUnion: Partnership for FastScreen™ prescreen tool.
2. Live Oak Bank: Collaboration to better serve funeral homes.
Conclusion
LendingUSA has established itself as a significant player in the point-of-sale consumer financing industry, particularly focusing on niche markets such as chiropractic, cosmetic, pet, funeral, and tax services. The company’s mission drives its innovations and partnerships, aiming to simplify financing for both merchants and borrowers, enhancing their financial options at critical moments in life.
