Online Loan Facilitator Weemba Adds More Lenders
The online loan facilitator Weemba Inc. has added three more lenders to its base of financial institutions.
Weemba, of Miami, pairs lenders with prospective borrowers in a kind of dating-game scenario that lets each party vet the other for best attributes. Lenders conduct searches of borrowers based on their own criteria, but the borrower decides whether to open up lines of communication. Sensitive information such as the borrower's Social Security number is visible to the lender only if the borrower allows it.
Weemba announced Monday it has added Crossroads Financial LLC, Mercantile Capital Corp. and Perform Finance LLC, a unit of MedChoice Financial LLC. Weemba works with more than 30 lenders.
Weemba also works with MedChoice Financial for medical loans. The Perform Finance arm does more general purpose loans.
Weemba’s loans range from $1,000 to more than a million dollars, with an average loan value of $27,500.