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 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. Additionally, LQD is in partnership talks with several banks interested in the company's underwriting platform. Sustaining Substantial Financial Growth LQD Business Finance uses sophisticated technology to make the loan process more efficient without compromising underwriting quality. "Many of the early alternative lenders were technology companies trying to do credit. We are credit and finance people using technology to make us better at our core competency, and the markets are reacting very positively to our approach," says Souri.
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