Lending Exchange Brings Loan Buyers, Sellers Together
An online marketplace that connects financial institutions looking to purchase loans with those who are selling loans is the premise behind BP Connect, a new venture from Business Partners LLC, a business lending CUSO.
Sellers can post the loans they have available for viewing by interested buyers. Potential buyers can also view available loan bundles and receive a daily alert with newly posted loans., according to BPLLC in Chatsworth, Calif. The CUSO said its existing standards and platform allow participating institutions to complete their due diligence process.