STAMFORD, CT -- (Marketwired) -- 06/25/14 --
Finacity Corporation ("Finacity") is pleased to announce that it has served as advisor to a loan origination program recently closed between CreditCircle, Inc. ("CreditCircle") of Salt Lake City, Utah and a regional bank. The program facilitates the future origination of internet marketed loans by the bank using CreditCircle technology.
"We're proud to have facilitated such an innovative program," said Finacity CEO Adrian Katz. "This advisory success reflects Finacity's continued growth in the consumer finance sector, which we view as a natural extension of our core trade receivables practice."
CreditCircle is a specialist in loans, often referred to as "Peer to Peer" or "P2P", where the consumer application and underwriting process is entirely internet based. The lender was founded in 2012 as a technology focused company. CreditCircle has pioneered the marketing and servicing of Sponsored Loans (sm) where the repayment obligation is undertaken jointly by the primary borrower and by a second party, often a relative of the primary party.
About Finacity Corporation
Finacity Corporation specializes in the structuring and provision of efficient capital markets receivables funding programs, state-of-the-art servicing, and bond administration. Finacity currently facilitates the financing and administration of approximately $90 billion of receivables annually. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world. The Finacity consumer receivable activities incorporate auto loans, credit card receivables, retail installment and all specialty finance classes. For more information on our company, please visit www.finacity.com.
For more information, please contact Finacity Corporation:
Managing Director, Consumer Finance
Tel: (203) 428-3511