Patient financing company, American Healthcare Lending (AHCL), announced this week that it has officially changed its name to Prosper Healthcare Lending (PHL). This change comes after AHCL was acquired in January by Prosper Marketplace, which operates the largest privately held online marketplace for credit. PHL will continue to offer the same services to its provider locations and will introduce an additional innovative new financing platform in the cosmetic surgery, fertility, bariatric surgery and dental industries.
Prosper connects people who want to borrow money with people who want to invest. The company has facilitated more than $3 billion in loans through its platform, growing over 350% in 2014. Prosper offers borrowers fixed-term, fixed rate loans with no pre-payment penalty. The addition of what is now Prosper Healthcare Lending will give the company the opportunity to bring a consumer-friendly option for financing medical procedures to an industry that has been characterized in the past by high rates and a lack of options.
Prosper Healthcare Lending will continue as one of the fastest growing companies in the patient financing industry. PHL’s financing platforms offer healthcare providers dramatic cost savings compared to the other leading brands because of no transaction fees for standard installment loans, no subscription fees, and no set up fees. Financing from PHL also benefits the patient. Unlike other patient financing companies, PHL provides healthy loan options with no retroactive interest and no pre-payment penalties.
Prosper Marketplace was recently named one of Forbes’ “Most Promising Companies in America” in 2015. The company was also awarded the Deloitte Fast500, recognizing the fastest growing public and private companies in North America, and for the past three years has been recognized as one of the fastest growing private companies in the Bay Area by the San Francisco Business Times.