Canadian marketplace lending platform LendingArch announced on Tuesday it is accelerating its plans to expand into the U.S. in response to the increased demand for loans and debt relief during the COVID-19 pandemic.
Founded in 2015, LendingArch describes itself as a modern finance company reinventing the lending experience. The company claims that through smart technology and exceptional customer experience, it has become one of Canada’s fastest-growing providers of instant credit to financially responsible Canadians. From medical expenses, debt consolidation, home improvement costs, and help with personal growth, LendingArch is dedicated to bringing financial advancement to consumers who deserve to live a happy life, at their rate. While sharing details about the expansion, Paul Hadzoglou, President of LendingArch, stated:
“Due to the large amount of inquiries we have received from Americans in regard to our platform’s services, we have as a firm decided to expedite the entry and launch of our services into the U.S. LendingArch’s track record in Canada is stellar, therefore we are confident we can aid consumers Nationwide with similar structures and solutions in partnership with USA based Lenders, Institutions and Car Dealerships.”
LendingArch noted it has current and established business operations in the U.S., which includes the successful acquisition of Irvine, CA-based Loanz Inc, now a wholly-owned subsidiary of LendingArch and many partnerships with California and New York-based fintech focused Investment Banks, Hedge Funds and Private Capital Firms. Hadzoglou then added:
“We will be offering many financial products that Americans will be needing to get through the pandemic and its aftermath. Tools like loans, low-interest credit cards, help with debt relief, auto-loan refinancing, or even credit management advice will all be in high demand through the remainder of 2020 and onwards.”