Legion launches mortgage lending platform

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Legion Capital Corporation, a private equity lender for small and medium-sized enterprises (SMEs) FinTech, announced Thursday (January 13th) that it will expand its loan portfolio with the new Legion funding platform, allowing property owners and developers to across the United States to submit potential transactions online.

Since its inception in 2015, Legion Capital has focused on financing housing and real estate development in Central Florida and seeks to expand into other markets in the United States.

“Our unique approach to specialty lending, particularly for early-stage property developers, has set us apart from our competitors,” Legion Capital President Paul Carrazzone said in the company’s announcement.

“By providing essential start-up capital coupled with a basket of services and other key resources, we are addressing a need that has not been met by commercial banks and traditional lenders,” he said.

Legion recently announced the sale of its $40 million Securities and Exchange Commission (SEC) qualified offer and amended and increased the offer to $75 million, as approved by the SEC on January 7.

“We are excited to expand our loan portfolio and open loan processing online as well as nationally,” Treanna Scholer, head of loan operations for Legion Capital, said in the announcement. “We look forward to helping real estate developers advance their mission by leveraging our fintech technology coupled with high quality relationship management. “

Related: Prosper Marketplace launches credit card to help people manage their finances

In other online lending news, digital lending platform Prosper Marketplace announced on Wednesday (January 12th) that it is launching the Prosper Card to help people at all levels of the credit ladder get on top of their finances. The card offers affordable rates, no annual fee for the first year with automatic payment, free cash advances at ATMs, no security deposit and other benefits.

People can apply online and choose their own payment term for the Prosper card, which the company says is the “best opportunity to make regular payments on time.” Prosper card users can also access exclusive member benefits that have been developed to help improve the overall financial well-being of customers.

The company offers personal finance courses that can be tailored to users’ needs and help them achieve their financial goals. The My Prosper Card app is available to help users control spending, manage payments and avoid fraud.

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