AVANA Companies a lending and asset management platform, is pleased to announce the launch of LendThrive™, a lending platform designed to help small businesses thrive while stimulating local economies. This latest addition to the AVANA Companies eco-system comes on the heels of AVANA’S move to become a majority shareholder in Extensia Financial, a credit union service organization (CUSO) focused on commercial real estate.
LendThrive™ is committed to helping small businesses go a step further than other small business lenders. They have unique performance-based fixed rate loans which enable business owners to keep more of their hard-earned money. Customers who make on-time loan payments qualify for a rate reduction rewards program with a declining interest rate over the term of their loans. For example, if a business owner starts with an interest rate of 2.50% per month and makes payments on time, their rate can reduce gradually to as low as 1.25%.
“It is our belief at LendThrive™ that your success is our success. We are here to support American business owners every step of the way by helping them keep as much profit in their pockets as possible,” says LendThrive™ and AVANA Companies CEO Sundip Patel. “Our Rate Reduction Rewards program lets us do this by offering fair and reasonable risk-adjusted pricing that rewards business owners for paying reliably on their loans.”
LendThrive™ strives to help underserved companies in industries such as hospitality and renewable energy that are often overcharged by financial markets. The platform provides access to capital without excessive rates and fees, with minimal paperwork and a fast approval process of 24 hours and funding in 48 hours. Unlike other lenders, LendThrive™ will not penalize business owners for paying back the loan early.
Patel believes that by lending with impact, they can invest in communities as well as the people they serve and employ. The founder and CEO is a life-long entrepreneur who has personally faced the same hardships as many other business owners. It was this experience that compelled him to develop a straight-forward platform that enables small companies to access capital in a transparent and fair manner.
LendThrive’s™ mission and values are aligned with those of sister company, AVANA Capital, with a primary focus on helping American business owners fund and grow their business. They also strive to make a difference in the environment through lending to renewable energy companies. To date, clean energy projects financed by AVANA Capital now power over 500,000 homes each year.
The AVANA Family of Companies including LendThrive™ and EqualSeat™ is dedicated to stimulating local economies and contributing to clean energy development across the United States. AVANA Capital, LLC is licensed in California under DBO license number 603K752 and in Arizona under CBK license number 0921662.
Extensia Financial is one of the most seasoned credit union service organizations (CUSOs) focused on commercial real estate. Established in 1998, Extensia is a customer service-driven organization connecting credit unions with commercial real estate brokers, commercial mortgage brokers and high net worth investors through participation lending. The company is headquartered in Northridge, California.
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