SAN DIEGO, Calif., July 28, 2015 (GLOBE NEWSWIRE) -- via PRWEB - First Associates Loan Servicing, the leading servicer in the online lending industry, has partnered with LiftForward, one of the leading companies in alternative small business finance, to provide primary servicing for their small business loan portfolio.
Based in New York City, LiftForward provides businesses with working capital, purchase order and asset backed loans. LiftForward's machine learning, online data-driven technology and underwriting experts assess risk, determine a credit rating and assign appropriate interest rates. LiftForward's process provides qualified businesses with loan offers within 24 hours of completing the online application and funds within the next business day following the acceptance of a loan offer.
"First Associates' high-touch levels of service and commitment to building strong, long-term relationships with borrowers made them the ideal choice to provide loan servicing to our small business clients," said Jeffrey Rogers, CEO of LiftForward. "Their state-of-the-art technology and infrastructure assures that they will be able to keep up with demand as LiftForward continues to grow."
"We are thrilled to partner with LiftForward," said David Johnson, CEO of First Associates Loan Servicing. "As banks continue to exit the small business lending space, LiftForward's innovative financing programs help fuel the growth of small businesses by providing much-needed capital."
First Associates has more than 25 years of industry experience in the consumer finance industry and has partnerships with the online lending industries leading companies. In addition to primary servicing, the company offers support services, such as backup servicing, contract validation, verification calls, and title management.
About LiftForward
LiftForward operates a marketplace loan platform which provides loans to small businesses and high yielding debt products to investors. Investors on the platform range from asset managers to hedge funds. Small businesses are able to borrow up to $1 million per transaction for asset purchases or working capital. LiftForward partners with suppliers, retailers and manufacturers in order to provide financing to their small business customers. LiftForward's technology, combined with its fundamental underwriting expertise, allows it to make a lending decision within minutes. LiftForward's machine learning technology produces an alternative FICO-like score for each business that applies for financing. Our proprietary credit models look deeper into the health of businesses, focusing on overall business performance, rather than just the owner's personal credit history.
About First Associates Loan Servicing, LLC
Based in San Diego, First Associates Loan Servicing is the fastest growing third-party loan and lease servicer in the United States. The company offers a wide range of solutions for a variety of asset classes including business, consumer, solar, auto, timeshare and student loans. First Associates has experienced management and staff, full SSAE 16 II audit, best-in-class IT infrastructure, as well as strong institutional relationships with commercial and investment banks, finance companies, hedge funds and credit unions. First Associates Loan Servicing leads the marketplace industry in providing customized technology and customer service solutions for its partners. For more information, please visit http://www.1stassociates.com.
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