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Weemba Plays Matchmaker For Borrowers

Thumbnail image for weemba.jpgAfter yesterday's CNNMoney article portrayed Lendio as a matchmaker, Bank Technology News published an article entitled, "Matchmaker Matchmaker, Make Me a ... Loan?" that shows Weemba in the same light.

This article, however, highlights Weemba's role as a friend to borrowers by treating them more as a partner than a product. Here are Weemba's borrower-friendly features:

    • Potential lenders are screened for predators 
    • The borrower decides when to open up communication
    • The borrower controls which personal pieces of information the lenders see
    • Borrowers do not pay fees, lenders do
It also gave some stats on the startup:

    • Loan requests are between $1,000 and $5 million
    • 2,000 members
    • 32 lenders
    • Competitors includes Kiva, Prosper, and Lending Club
City National Bank of Miami has been working with Weemba since launch. 

To learn more about Weemba, watch its FinovateFall 2011 demo.

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