Credibly Establishes Credit Facility with Three Different Banks

2015-06-25

cgallagher@retailcapital.com

Credibly has signed an agreement with a syndicate of banks to help expand their loan products. Credibly is the reincarnation of RetailCapital, a company that is an emerging FinTech portal that uses big data to provide a better lending experience. Credibly is another entrant in the space that seeks to fill the massive void left by banks that are too risk adverse, or ill-suited, to lend to viable customers.

The threesome of banks include Alostar Bank of Commerce, WebBank and CapitalSource (a division of Pacific Western Bank). The agreement is said to facilitate Credibly’s launch of a small business loan service, enabling the company to further fulfill its mission: to provide a full range of lending solutions and capital to small and medium-sized businesses, regardless of where they are situated on the credit spectrum and business life cycle.

(Originally published June 24, 2015 by JD Alois at CrowdFund Insider)

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