Online small business lender, Herio Capital, announced this week that it has funded over $10 million to American entrepreneurs in 2015. This milestone comes after another record month of origination volume for the firm, in which Herio funded $3 million to borrowers.
Sherif Hassan, founder and managing partner of Herio Capital, stated:
“We are grateful to our sales partners for helping us achieve this milestone in such a short period of time. Our continued focus on building the most accurate credit model and the most efficient operations process to support our clients would not be possible without their efforts.”
Satisfied clients like Becca McCarthy, owner of Brooklyn-based yoga studio Pure Barre, are a testament to the efficiency of the platform Herio is building.
She noted:
“Our first studio was running successfully and we saw an opportunity to open a second location. Herio listened to our story, assessed our needs and quickly provided a customized solution that had us poised for success.” The loan to Pure Barre was approved and funded in two days, giving McCarthy the capital she needed to open the second location.
Patrick Janson, partner and head of product management at Herio Capital, added:
“We founded Herio with the goal of giving small businesses greater access to credit through the web. Providing a great user experience to businesses like Pure Barre is our sole mission as we scale our technology and business model.”
Herio Capital is on target to achieve its funding goal of $25 million by the year’s end, and is looking forward to exploring “The Future of Credit 2015” in a joint event with Orchard Platform on October 8th.
