Understanding marketplace lending – the first lesson of the day! It’s common for people to mistake us as just “another bank” but LendingArch is not a bank, we’re a marketplace lender.
There’s plenty of differences between the two, but we’re still able to provide personal loans in Canada as well as various other financing options.
We are not a bank.
Which we are incredibly excited about, and as should you be.
We are a modern marketplace lending platform offering affordable online loan options to Canadians.
And because we are not a bank!
We are able to offer competitive financial solutions that are tailored to you, the consumer, so our members are treated as people, not just numbers, and given the best possible chance for success. As our Co-Founder, Arti Modi, says,
Our unfair competitive advantage includes exclusive partnerships with innovative data sources that allow us to underwrite and score borrowers more effectively, giving you the exact loan rate you deserve, and potentially a personal loan where other lenders might turn you away.
We utilize tools that limit the bank’s involvement in the lending process and accomplish results for the borrower in a fraction of the time. We are always asking questions like “how can we speed up the borrowing process?”, “What new data can we look at to understand the future habits of this customer?”, and “How can we help borrowers achieve their financial goals?”. As a result, we have one of the fastest, easiest online loan application processes anywhere and at extremely competitive rates.
No Lines. No Paperwork. No Headaches.
We are determined to create a financial eco-system that features you, the consumer, at the centre of the equation. Why? LendingArch was founded by seasoned millennials, recent graduates, computer geeks, technology architects and ambitious entrepreneurs, regular people, just like you.
We have set out to redefine the way you borrow money through online lending, cutting inefficiencies from the financial chain, and introducing a new way to view you as a potential borrower.
The key takeaway from this session: