New York, NY, April 25, 2014 –(PR.com)– Lendoor, an online platform for crowdfunded small business loans, is proud to announce its strategic partnership with BancBox.
BancBox is a payments and compliance engine the powers 60+ crowdfunding platforms. Their customers include some of the major firms in equity, real estate and clean tech such as Rock the Post, iFunding, and Collective Sun.
The partnership fortifies Lendoor’s financial processes and platform capabilities. “We chose BancBox because of their flexible and scalable solution. Their service is an elegant solution for our needs as a debt-based crowdfunding platform, which is technically more challenging due to the multiple cash payments going in both directions,” said Lendoor founder and CEO, Viktoria Krane. In strengthening Lendoor’s operations the partnership creates great value for Lendoor’s community of small businesses and investors.
“We are excited to be playing such a critical role in enabling the alternative lending industry to flourish,” said BancBox CEO, Sanj Goyle. “With our unique API based escrow solution we can help ensure this happens not only securely, but also in full compliance with FINCEN, FINRA and SEC regulations.”
Debt-based crowdfunding is currently less known; however, it is thought to have larger growth potential than the currently popular rewards and equity based crowdfunding.
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