TheBestCompanys.com takes a look into the growth of FreedomPlus personal loans and their identity among the likes of LendingClub and Prosper
San Francisco, CA -- (SBWIRE) -- 03/03/2015 -- With the increasing popularity of personal loans, TheBestCompanys.com (TBC) constantly monitors changes in policies, interest rates, and customer satisfaction to provide helpful insight to those looking for a personal loan.
FreedomPlus used to be viewed as a subprime lender in comparison to LendingClub and Prosper, but their recent strategy positions them as an "Emerging Prime" lender. FreedomPlus has competitive interest rates with the personal loan giants, but now competes at another level by looking at borrowers that are labeled as "Emerging Prime."
"Personal loans are becoming a smart way to consolidate debt and save money on interest," TBC's Bryce Morgan said. "Large of amount of credit may not be available to those who are working to better their credit situation."
Recently, FreedomPlus has grabbed multiple heading investments. Aequitas Capital Management has committed $110 million in capital. The funds from Aequitas Capital Management will be used to offer lower-cost loans as well allow for more people qualify for personal loans.
In additional to Aequitas Capital Management, FreedomPlus has received $125 from Microsoft co-founder Paul Allen's Vulcan Ventures.
FreedomPlus has kept an impressive low default rate at less than 2 percent which has helped them garner capital to grow their personal loan offerings.
According to Andrew Housser, FreedomPlus sets themselves apart from LendingClub and Prosper by offering "personal, private, fast and simple [loans] — [it] is much better suited to the needs and wants of today's borrowers and investors."
TBC believes in the the customer and real customer reviews because honest reviews put the customers' needs first. Customers should feel confident in decisions they make when choosing a lender for their personal loan needs. It's their money and they should know where they are spending it.
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