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Argon Credit Announces $5mm Private Placement

Argon 1 Credit Facility accepting investors in new private placement

 
PRLog - Feb. 5, 2014 - CHICAGO -- February 5, 2014

CHICAGO – February 5, 2014
- Argon Credit (https://www.argoncredit.com), a technology company that offers consumer loans between $500 and $20,000 to prime and near-prime customers, today announced the offering of a $5 million round of debt funding to accelerate the growth of its innovative product offering. Argon Credit will use the investment capital to fund the high speed growth of its loan portfolio.

“Argon Credit fills the void in consumer loans left by the national banks by deploying a unique technology platform designed to provide the best possible loans for customers with near perfect credit,” says Gary Zumski, co-founder and Chief Risk Officer of Argon Credit. “This funding will allow us to enhance our loan portfolio and increase the number of U.S. households we can assist.”

Argon Credit plans to raise $100M in capital by 2015 and grow this portfolio to over $1 billion over the next 5 years. The company is utilizing data encryption security standards maintained at major banks to provide its customers and retail partners with the comfort that they are protected.

“We backed Argon Credit and have taken a managerial interest because of the experience and dedication of the team and are amazed at the pace of growth” says Raviv Wolfe, Managing Director of America One Capital who provided the initial seed funding for Argon Credit.

Argon Credit’s founders also founded America One Bancorp, the leading online Jumbo mortgage provider and have built online consumer direct lending channels for multiple national banks. They pioneered the online lending business since 1999, heavily concentrated on residential, commercial, and consumer lending.

About Argon Credit

Argon Credit (Argon Credit Corporation) was launched in late 2013 to increase consumer loan liquidity by offering fully-unsecured installment loans between $500 and $20,000 online. The combination of technology, analytics and customer service capabilities allows the Company to offer fast loans to borrowers with near-perfect credit. Find out more at http://www.ArgonCredit.com/.

Media Contact:

Berj Arakelian, Investment Relations Officer
Argon Credit Corporation dba ArgonCredit.com
760 Village Center Dr, Suite 230, Chicago, IL 60527
847.521.3108 / barakelian@argoncredit.com
www.argoncredit.com

Contact
Berj Arakelian
847-521-3108
***@argoncredit.com

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Source:Argon Credit
Location:Chicago - Illinois - United States
Industry:Finance, Investment
Tags:consumer loans, private placement, Technology, investment, Finance
Shortcut:prlog.org/12278641
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