Bond Street

Simple, fair and transparent lending for SMBs

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74
Hunter Walk@hunterwalk · Partner, Homebrew
Very happy investor in Bond Street. Sterling team helping SMBs access capital to grow grow grow! Just raised $110m equity + debt -> http://www.forbes.com/sites/laur...
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jonathanmarcus@jonathanmarcus · Founder, Goodsie
What's the difference between Bond Street, Fundera, On Deck Capital or the handful of other lending services? As a prospective customer, why would I choose Bond Street rather than Fundera, etc?
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David HaberMaker@dhaber · CEO, Bond Street
@jonathanmarcus Great question. We're pretty different from both Fundera and On Deck. Fundera acts as a broker / lead gen business in this space. If you liken them to Kayak, then Bond Street is the Virgin America of the lending space :). They aren't actually the ones to underwrite the loan / make the ultimate decision. On Deck has built a very successful lending business, but they play in a different part of the market than we do. Their average loans are around $35K, 10 months in duration and ~50% APR and really are for businesses who are in immediate need of capital / are willing to pay a lot for it. Whereas, the average Bond Street loan is $170K, 3 years in duration, and around 11% APR. So our customers are typically investing in their growth by opening a new location, hiring employees, buying equipment, etc. We are much more competitive with banks from an interest rate perspective, but have shortened the process of applying and receiving funding to a few days instead of a few weeks! Hope that helps.
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jonathanmarcus@jonathanmarcus · Founder, Goodsie
@dhaber OK, wow. I apologize for my ignorance! The differences are obvious now. Thanks for such a helpful summary.