Rebirth Financial announced that it facilitated a 390,000 US$ loan via it’s social lending platform to NOLA Brewing Company. You can read more about NOLA Brewing company here.
The press release says: “In the case of NOLA Brewing, Rebirth Financial matched the loan to ASI Federal Credit Union in less than one week. ‘Rebirthâ€™s process was quick, easy, and helped us raise the necessary funding to can our beer,’ said Dylan Lintern, Vice President of NOLA Brewing Company.“.
If I read this right and the loan was funded by just one institutional lender you can hardly file this under Rebirth Financial’s claim “Rebirth Financial Inc. debuted Americaâ€™s first person-to-business lending platform … in February. It allows people to lend small sums of money to small businesses in their community.“. I wrote to the founder Chonchol Gupta who replied: “This loan started as a p2p loan but was fully funded by the credit union, who would not have seen the loan or perhaps given thought to it, if it was not for the groundswell of community interest. Banks see it as great PR to fund loans important to the community.“