- 1CFO Jason Bengel called MCA a strong market that is growing
- 2LendingTree keeps investing in its small business concierge sales force
- 3CEO says many small business lenders write only through brokers like it
LendingTree CFO Jason Bengel described merchant cash advances as “a strong market that is growing” during the company's Q4 earnings call.
A growing priority
Small business financing has become a rising priority for the financial services referral platform. CEO Scott Peyree said LendingTree has continued to add to its small business concierge sales force. That helps both the company and the lenders on its network reach more business owners and guide them through the often complex application process to funding.
Platform or broker
Although LendingTree is generally considered a platform, it describes itself as a business loan broker, one whose name helps lenders reach merchants they otherwise could not connect with.
Peyree said many of its small business lenders do not even write direct to merchants. They make loans through brokers like LendingTree, which has deep API access, with logins, to pull their loan information. In many cases, he said, the borrowers do not know those lenders exist outside of going through LendingTree to get a loan.
Source reporting: deBanked.
