LendingUSA, a point-of-need financing company, secured a $60 million credit facility from CapitalSource, a division of Pacific Western Bank.

The funding allows LendingUSA to continue the growth of its portfolio of consumer loans in specialty industries, including cosmetic surgery, dental care, chiropractic, pet and funeral services.

“LendingUSA is appealing for investors because it successfully combines the traditional characteristics of lending companies with the opportunities offered by new technology and emerging markets,” said Ron Oertell, CFO of LendingUSA. “Our exciting growth so far shows that there is a need for a new approach to consumer financing, and LendingUSA has been responsive to that need, both online and at the physical point-of-sale.”

The company has grown dramatically since its founding, assisted by its ability to identify and enter new and unique markets with a strong need for financing. In June 2017, LendingUSA became the first financing solution to be officially endorsed by the National Funeral Director’s Association. The company also received an endorsement from the American Academy of Cosmetic Surgery in 2016.

LendingUSA operates nationwide, with the exception of Connecticut, New Hampshire, New York, West Virginia and Vermont. Loan amounts range from $1,000 to $35,000.