Thursday, October 18, 2007

Circle Lending Puts Up Volume

I have never paid much attention to CircleLending because they facilitate loans between parties who have already agreed, in principle, to make the loan. In other words, they handle the bookkeeping. Virgin (of Richard Branson fame) purchased CircleLending a while back, rebranded it (Virgin Money USA), and has started a marketing push (see here, here). I have to admit that I didn't make it past the first few lines of the press releases. However, I developed an attention span long enough to read all the way through one article and there was something interesting buried in the bottom:

CircleLending administers about $200 million in loans and has 30 employees in Waltham. Advani said it will have about 60 employees within a year as it adds new services.

It charges $99 to arrange a personal loan and $199 to arrange a business loan.

CircleLending has over $200M in loans? You have my attention now.

No comments: