LQD CEO, George Souri, Featured at LendIt USA 2017

By James Pietrarosso

March 6, 2017

Chicago, March 6, 2017 – Founder and CEO of LQD Business Finance, George Souri, was recently featured at LendIt USA 2017 on a panel entitled “Short Duration/High Yield: Protecting Against Interest Rate Hikes,” part of the Innovation in Lending track.

 

Along with fellow panelists Philippe Marleau of IOU Financial, Ben Gold of QuickBridge Funding, and Ryan Rosett of Credibly, with moderation by Justin Brownhill of SenaHill Partners, George Souri discussed the nuanced definition of short-term and high-risk commercial lending, as well as the range of products currently being offered.

 

Speaking specifically to a recent industry-wide increase in default rates, led by the current leaders in merchant cash advance and marketplace lending, Souri noted that “the model of the future…is going to require an alignment of interests between the originators and the credit facilities that are coming into place”—something that does not, at this point, exist. He added that the reason these default rates have been 3X than what was predicted is that “the original alternative lending model was focused on making the origination process more efficient, and it took the quality of the credit and the rigor of the underwriting process for granted.”

 

Souri goes on to explain the ways in which LQD is attacking this problem, most notably by bringing to market the financial sophistication necessary to soundly underwrite at scale, as well as the ability to uniquely structure and price each loan individually. “The next generation model is going to come back to focus on not just quantity of loans, but quality of the loan.”

 

Watch the Full Panel

 

About LQD Business Finance

LQD is a national fintech startup and commercial lender that offers businesses greater options for their financing needs versus those offered by banks or existing online lenders. LQD provides structured, transparent, and affordable loans of up to $5MM in as little as 10 days to a range of businesses, and approves loans through its proprietary underwriting and risk management platform, LQD Matrix.

 

Media Contact

James Pietrarosso

Team Lead, Marketing, LQD Business Finance

Phone:  (312) 444-0624

Email: jamespietrarosso@lqdfinance.com

Ready to get started?

Let's Talk

Let's Talk

X