Cross River Milestone: Surpasses $600 Million in Monthly Loan Originations

Earlier this week, Cross River announced it set a new monthly loan origination record of more than $600 million in April. The company reported that this loan origination achievement puts its growth into “impressive context” due to the fact that the April 2018 volume represents approximately 60% growth in loan origination from April 2017, and keeps the company on pace to exceed $7 billion in loan originations for 2018.

According to Cross River, the loan origination figure also adds to a list of performance milestones that the company has recently achieved. Adam Goller, Head of Strategic Partnerships for Cross River, stated:

“We are proud to be able to provide access to credit to millions of Americans in a compliant, safe and sound manner through uniquely designed partnerships with our marquis clients. The bank is well positioned to continue its impressive growth with a combination of robust compliance, technology and strong risk management.”

The news of Cross River’s latest milestone comes just a few weeks after the company was awarded “Most Innovative Bank” at LendIt, the world’s largest annual event focused on financial services innovation. Cross River currently partners with 14 Marketplace Lending (MPL) platforms to originate loans across the U.S. through its focus on best-in-class technology and compliance.

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