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The Lending Company history
The Lending Company company history timeline
As lending increased, more people defaulted on loans and filed for bankruptcy, which made banks reluctant to continue lending money, especially to small companies that were unlikely to remain in business. For example, in 1996, 37 percent of the small-business owners in America requested loans from banks, and 25 percent of these were rejected.
In 1997 the Money Store offered 1,784 loans to small businesses for a total of $784 million.
Jump forward to 1999 and online banking is a thing and borrowers no longer need to step outside their house or even have any social interactions to apply for a loan (cue the onset of obesity and social awkwardness).
After recording earnings of $1.8 billion in 2001, GMAC had financed more than $1 trillion in loans on more than 150 million vehicles since its inception.
Daimler Chrysler Financial Services began operations in 2002.
Prospa is seen as the pioneer of alternative lending, launching in 2006, it allowed borrowers to skip the bank altogether and get their loans from online lenders.
Guild founder Martin Gleich retired in 2007 and Mary Ann McGarry became CEO.
14, 2008, represent Lending Club securities rather than direct obligations of the ultimate borrower and are tradable (can be bought and sold) on the FOLIOfn trading platform, according to the prospectus released.
In 2010, LendingTree.com survey found that 21% of prospective home loan consumers shopped online.
In February 2013, Shawbrook Bank in the UK launched a secured loan product that allows loans to 95% of property value.
Lending Club completes its $900 million IPO — the largest in tech for 2014.
In 2015, BBVA survey states that 45% increase in consumer loans through mobile phones.
Kayleen Sylvester founded her business, Compassionate Development for The Sylvester Trust in January 2017.
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The Lending Company competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Pacific Coast Mortgage, Inc. | 1994 | $16.0M | 50 | - |
| Equity Plus Mortgage Inc | - | $160,000 | 5 | - |
| Intermountain Mortgage | 1992 | $15.0M | 50 | - |
| Alternative Mortgage Funding | - | $570,000 | 5 | - |
| Liberty Mortgage Group | - | $1.2M | 27 | - |
| Equitable Mortgage | - | $1.2M | 50 | - |
| Equity Mortgage Bankers | - | $4.7M | 175 | - |
| US Mortgage | 1994 | $21.4M | 360 | 6 |
| Community Mortgage Funding | - | $4.1M | 15 | - |
| CBC National Bank Mortgage | 1999 | $31.0M | 350 | - |
The Lending Company history FAQs
Zippia gives an in-depth look into the details of The Lending Company, including salaries, political affiliations, employee data, and more, in order to inform job seekers about The Lending Company. The employee data is based on information from people who have self-reported their past or current employments at The Lending Company. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by The Lending Company. The data presented on this page does not represent the view of The Lending Company and its employees or that of Zippia.
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