Proven fintech based online installment lender that has been in business since 05/2018; current portfolio is $1.5 million (929 customers).
The business collects $73 in interest revenue for every $100 payment received and processed. Customers average two payments due per month.
Average loan size is $1,600 with interest rates up to 200% on terms that run between one and two year unsecured notes.
Bright Side Loans LLC currently originates loans in five states (SC, MO, IL, NM and UT) - seven more states are on the way with twenty six or more we can operate in.
Company's founders each have over 30 years of Risk Management, Analytic and Operational experience with 10 years in the Alternative Finance industry. Throughout their careers the management team has successfully built and managed custom analytically driven solutions (including custom machine learning scorecards) which enable the effective and efficient management of risk.
This business is driven by proven mathematical formulas deployed across the lending cycle (attracting prospects, underwriting applicants, processing payments to optimizing collection activities). Well managed mathematical practices ensure consistent and predictable results month over month which result in consistent investor success month over month.
Leveraging good risk management practices paired with competitive rates provides a pathway to consumers who have been trapped in higher interest installment and payday loans.
This business operates in a high margin, low overhead, fintech based environment with a near endless supply of customers and prospects.
Bright Side Loans LLC is in need of growth capital. The company is built and operating on all cylinders and only in need of a good capital partner.