FinTech-enabled small and medium-sized business (SMB) private equity lending company Legion Capital Corporation on Thursday (Jan. 13) said it will expand its lending portfolio with the new Legion Funding platform, allowing real estate owners and developers across the U.S. to submit potential transactions online.
Legion Capital has focused on early-stage housing and real estate development finance in central Florida since its inception in 2015 and is looking to expand into other markets across the U.S.
“Our unique approach to specialized lending, particularly to early stage real estate developers, has distinguished us from our competitors,” Legion Capital President Paul Carrazzone said in the company announcement.
“By providing critical early-stage capital bundled with a basket of services and other key resources, we serve a need that has gone unserved by commercial banks and traditional lenders,” he said.
Legion recently announced the sellout of its $40 million Securities and Exchange Commission (SEC) qualified offering and has amended and increased the offering to $75 million as approved by the SEC on Jan. 7.
“We are excited to expand our loan portfolio and open loan processing online as well as nationwide,” Legion Capital Manager of Lending Operations Treanna Scholer said in the announcement. “We look forward to helping real estate developers advance their mission by leveraging our fintech technology coupled with high touch relationship management.”
Related: Prosper Marketplace Launches Credit Card to Help People Manage Finances
In other online lending news, digital lending platform Prosper Marketplace said Wednesday (Jan. 12) it is launching the Prosper Card to help people on all levels of the credit scale get a handle on their finances. The card features affordable rates, no annual fee for the first year with autopay, no-fee ATM cash advances, no security deposit and other perks.
People can apply online and choose their own payment deadline for the Prosper Card, which the company says is the “best opportunity for making on-time payments on a regular basis.” Prosper Card users can also access member-exclusive perks that were developed to help improve customers’ overall financial well-being.
The company offers classes in personal finance that can be tailored to users’ needs and help them meet financial goals. The My Prosper Card App is available to help users stay on top of their spending, manage payments and avoid fraud.