LeaseLoan Completes $1.2-Million Series-A Financing; Online Lending Marketplace Provides Real-Time Business Financing for Small Businesses.Business Editors DONNER LAKE Donner Lake is a freshwater lake that is much smaller than nearby Lake Tahoe. A moraine serves as a natural dam for the lake. It is located in the town of Truckee in northeastern California. , Calif.--(BUSINESS WIRE)--July 26, 2000 LeaseLoan, an online lending marketplace that provides real-time business financing for small businesses, recently announced the closing of its $1.2 million first round of financing. The company will use the infusion of funds, from individual investor Robert Tennant, to ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale its levels of marketing, product development, services, technology, and staffing. Launched in November 1999, LeaseLoan serves small to medium-sized businesses by quickly placing lease and loan transactions at risk-adjusted, market pricing. "With our business model and our extensive pool of lenders, LeaseLoan can say 'yes' to more business transactions than any other single lender," said Nick Pullen, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of LeaseLoan. "By realizing the efficiencies of the Internet, small business owners now have a way to get financing in one online session at the best market rates." "I believe LeaseLoan is offering significant solutions for new and thriving small businesses," said Robert Tennant, first round financer and a group manager for Sun Microsystems' Java Unit. "This company is meeting a critical, current need in the industry: to fund and support small businesses more efficiently, while at the same time, streamlining the credit evaluation and procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. process for funding sources." Statistics show a strong demand for LeaseLoan services: there are more than 23 million small to medium-sized business in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , with access to capital being cited as the number one problem that businesses face, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Dun and Bradstreet. The equipment leasing Equipment Leasing is a financing option to lease equipment for a certain amount of time. Leasing Benefits
Different from current marketplace models, LeaseLoan manages the lending transaction from start to finish, guiding the customer through the transaction process avoiding an awkward customer pass from one institution to the next. In addition to assisting with capital, LeaseLoan assists new businesses with educational and product fulfillment ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. services that promote long-term growth. For more information, visit www.leaseloan.com or call 530/587-7105 ext. 7010. |
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