ExtraFunds, a loan servicing company within the short-term lending
marketplace that has serviced over 42,000 consumer loans in five years,
is seeking to raise at least $1 million through the Crowdfunder platform
to dramatically expand business operations.
The capital will be used for additional lead acquisition, marketing
services, and expansion of its call center to support increased volume.
Investors can expect impressive returns in the form of promissory notes
that carry 12% annually compounding interest. Minimum investment is 12
“ExtraFunds is perfectly poised for dramatic growth as the online
short-term lending marketplace explodes,” said ExtraFunds Founder and
CEO Aaron W. Bishop. “Our customers, who borrow an average of just $320,
come back to us because of our top-notch, personalized customer service,
the objective and transparent financial information we provide, and the
respect we show our customers, whether we’re making loans or collecting
Short-term lending is a multi-billion dollar industry. An estimated 2%
of U.S. adults use small-dollar loans to help manage cash flow,
according to a recent study by the George Washington University School
ExtraFunds has emerged as an industry leader by keeping costs low,
encouraging customers to pay off loans quickly, and converting borrowers
into repeat customers. The company, which has serviced $14 million in
loans over five years, boasts a 35% average conversion rate. Three of
every five ExtraFunds borrowers are returning customers, this repeat
business costing the company almost nothing.
“We specialize in keeping happy customers,” said ExtraFunds Director of
Lending Operations Bryce Sorensen. “They’ve proven they are responsible
borrowers, and we do everything we can to keep them coming back when
they need us.”
“ExtraFunds has been able to maintain a low 13% overall default rate,
meaning the company collects on an impressive 87% of its loans,”
ExtraFunds’ $1 million debt investment opportunity is open to all
qualified investors through Crowdfunder.com. Learn more at www.crowdfunder.com/extrafunds.
ExtraFunds is an industry-leading loan servicing company in the online
lending marketplace with expertise in marketing, real-time underwriting,
and verification and collection services for lenders and borrowers.
ExtraFunds is owned by Logan-based Ottawa Capital, which has invested
nearly $1 million in the company. For more information, visit www.extrafunds.com
or follow the company on Twitter.