Endurance Lending Network
Web-based lender for small and medium businesses in the united states.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor investor investor investor investor investor | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
Endurance Lending Network operated as a web-based financial marketplace, connecting small and medium-sized businesses with sources of capital. The company was founded in 2011 by Alex Tonelli and was headquartered in San Francisco, California. It positioned itself as an alternative to traditional bank lending, providing a streamlined online platform for entrepreneurs seeking funding for expansion, equipment purchases, or other general business needs.
The firm's business model centered on facilitating loans for small businesses, particularly carving out a niche by serving franchisees of fast-food establishments. It connected these business owners with non-traditional capital providers, such as accredited high-net-worth individuals and institutional investors. The platform was designed to simplify and expedite the borrowing process through a quick, paperless application that could provide a decision within 48 hours. Endurance Lending Network offered loans ranging from $25,000 to $500,000 with features like fixed interest rates and no prepayment penalties, aiming to provide a transparent and manageable payment structure.
In May 2012, the company secured $1.5 million in a seed funding round from Thayer Street Partners, which supported its operational growth. A significant milestone occurred in October 2013 when Endurance Lending Network was acquired by Funding Circle, a UK-based peer-to-peer lending service. This merger was a strategic move for Funding Circle to enter and expand within the U.S. market, leveraging Endurance's established team of approximately 15 employees and its existing operational framework. Following the acquisition, the company was rebranded as Funding Circle.
Keywords: Endurance Lending Network, Alex Tonelli, small business lending, online loan marketplace, franchise financing, alternative lending, peer-to-peer lending, accredited investors, business expansion loans, Funding Circle acquisition, Thayer Street Partners, SME funding, debt financing, financial technology, San Francisco startup