LendingUSA closed a new credit facility and received a total financing package of $250 Million from Atalaya Capital Management.
LendingUSA has grown to more than 7,800 merchant clients nationwide and has processed more than $2 billion in borrower loan requests. LendingUSA offers its merchant clients access to its easy-to-use platform that allows them to complete applications in a matter of minutes and receive a loan decision within seconds. Loans range from $1,000 to $35,000 with low monthly payments.
“LendingUSA has a mission to provide smart financing solutions for the important moments in people’s lives. This latest funding commitment from Atalaya validates our innovative business model and helps fuel the continued growth of our company. I’m proud of what we have accomplished thus far and look forward to the future ahead,” said Camilo Concha, founder and CEO of LendingUSA.
This full financing suite offered by Atalaya plays an integral role in helping to expand LendingUSA’s financial services capacity and allows the company to accommodate additional loan originations for its customers.
“LendingUSA is well positioned in the marketplace and we are thrilled to expand our relationship through this long-term partnership. This financing further underscores our commitment to the point-of-sale financing industry, and our interest in partnering with consumer finance companies that provide credit to consumers in a responsible way,” said Raymond Chan, partner of Atalaya Capital Management.
Atalaya Capital Management is a privately held, SEC-registered, alternative investment advisory firm.
