Company Performance Metrics
Kevin Allred: President, Executive Officer
Joe Shull: Vice President, Business Development
They are raising $700,000 in equity and/or debt financing to start another division of their company. They currently operate 4 brick and mortar installment loan stores in the state of South Carolina. The $700,000 will enable us to start offering their product via the internet. By moving to the internet they will be able to reduce their
overhead and strengthen their bottom line profits. The future of lending is migrating towards online lending. Several online lenders have merged just in the past 24 months and are now projecting $400 to $500 million in revenue for 2015. Others that were started were sold at 10 times the annual revenue after just 24 months of operation.
The $700,000 investment as equity will equate to 1% per $20,000 invested up to 35% and the debt financing will be paid back over 36 months at 24% interest. Equity holders will receive an annual dividend payment based on equity percentage owned.
The future of lending is migrating towards online. The market for online lending in 2013 was $500 million, in 2014 the market jumped to $3.6 billion and in 2015 is $9 billion. They do not want miss the boat on this growing market.
