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11, 2017 /PRNewswire/ — LQD Business Finance, an alternative lender that uses a proprietary credit-scoring algorithm to underwrite business loans, announced standout business results in 2016, its first full year of operations. Last year, LQD grew its flow of loan applications to over $140 million and loans closed to $33 million. In addition, the company closed a significant Series A funding round, complementing the $30 million credit facility secured in 2015. “LQD is the next generation alternative business lender. Early alternative lending businesses were important but incomplete, and they have struggled recently as a result. LQD has internalized those lessons into a strong and minority business loan sustainable business model,” said George Souri, its CEO and founder. “Besides our strong new loan performance, we expanded operations with a new website and key hires, and we are positioned to scale our business.” Looking ahead, Souri said LQD anticipates growing its origination run rate to $80 million by the end of 2017 and to more than $200 million over the next 24 months, largely by expanding its data-driven lead generation and targeting the $200 billion market of prime and near-prime loans between $250,000 and $2 million. That market is underserved by both banks and existing alternative lenders.

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