Business Partners LLC, a business lending CUSO, has created BP Connect, an online marketplace that connects financial institutions looking to purchase loans with those who are selling loans.
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 allows participating institutions to complete their due diligence process.
For financial institutions seeking to remix their balance sheets, BP Connect aims to provide a channel to purchase or sell residential real estate, auto loans, credit cards, and just about any type of consumer loan, according to the CUSO.
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