Funding Circle Breeds Bean Bags

Yogibo CEO Eyal Levy saw a business loan ad for Funding Circle and applied. “The process was very smooth,” Levy said, who made a point to say that he was interviewed by an underwriter. Today, Yogibo has around 25 retail store locations and their bean bag business is booming.

Bloomberg’s Eric Schatzker expressed surprise that it wasn’t an instantaneous automated algorithmic approval that online lending has a reputation for these days. Video below:

Just like Lending Club, whose CEO appeared on Bloomberg earlier today, Funding Circle is one of the original founders of the Responsible Business Lending Coalition. They announced a “borrowers bill of rights” yesterday.

Sean Murray is the President and Chief Editor of deBanked and the founder of the Broker Fair Conference. Connect with me on LinkedIn or follow me on twitter. You can view all future AltFinanceDaily events here.