Bond Street, a leading online small business lender, announced the closing of a loan-purchase agreement with Jefferies that renews Jefferies’ prior loan-purchase agreement and expands the size of its loan purchases up to as much as $300 million. This agreement will facilitate Bond Street’s growth and help thousands of small businesses across the country access fair and affordable financing.
“Jefferies has been an outstanding partner and shares our vision for reinventing financial services through technology, data and design,” said David Haber, CEO & Co-Founder of Bond Street. “Jefferies’ continued loan purchases will expand our ability to support entrepreneurs at every stage of their growth cycle.”
Bond Street’s technology and extensive expertise in credit and risk management has enabled the platform to scale, while delivering both a superior customer experience to entrepreneurs and market-leading returns to investors. As a result of this exceptional track record, Bond Street has broadened its term product to include loans ranging from $10,000 to $1 million—a significant expansion from its original $50,000 to $500,000. Bond Street now offers the widest term loan range in the alternative lending industry.
“Supporting entrepreneurs beyond the transaction is the cornerstone upon which we build our technology,” said Peyton Sherwood, CTO & Co-Founder of Bond Street. “We aspire not only to provide seamless access to capital, but also to serve as a proactive financial partner to our customers. Through deep integrations into financial software platforms, we automate financial analysis during underwriting, and programmatically monitor the health of our portfolio over time – surfacing key insights and risks to help our customers succeed.”
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Bond Street has raised over $400 million in lending capital since its founding. They are backed by leading investors such as Spark Capital and Homebrew, as well as individual investors including Nathan Blecharczyk (Co-Founder and CTO of Airbnb) and David Chang (Chef/Owner of momofuku).