New online community connects loan traders, cuts out middleman
DES MOINES, IA (October 28, 2013) — Secondary market loan professionals have an entirely new way to connect with potential buyers and sellers while cutting out the costs and constraints of a middleman with the launch of LendTrade (www.lendtrade.com). LendTrade is a community for experienced professionals who know how to negotiate their own deals, but need help finding qualified leads.
“LendTrade is like Match.com
meets LinkedIn for traders,” says Steve Schipper, LendTrade founder and CEO. “We connect buyers and sellers directly at a fraction of the cost of a traditional advisor’s fee.”
Until now, traders have relied on a middleman to find prospective buyers or sellers and help manage the deal, usually with a hefty percentage as the price tag. LendTrade connects experienced professionals and lets them manage their own deals at a much lower price.
“Some secondary market loan professionals need assistance negotiating and closing deals, and for that, advisors are valuable resources. However, many professionals know how to do their own deals, they just need the right buyer or seller,” says Schipper. “That’s where LendTrade comes in.”
When members join LendTrade, they set up a profile and indicate the types of deals they are seeking. They are then able to immediately start connecting with other members. When opportunities that meet their criteria are posted, members are notified and the two parties can negotiate their own deals. This saves them time finding deals, and shortens the transaction life cycle from start to finish, getting deals done faster. It also allows traders to retain control of their deals, ensuring their professional value within their companies.
Joining LendTrade is free and all new members receive three courtesy connection credits. After that, members can purchase additional credits on a pay-as-you-go basis, or they can choose the ease of a LendTrade Premium account, which allows unlimited connections for a monthly or annual fee.
LendTrade (www.lendtrade.com) is an active community where experienced secondary market loan professionals connect without the costs or constraints of a middleman. LendTrade members retain control of their own deals and save time and money with the ability to screen and identify potential trade partners on a case-by-case basis, making locating and closing deals easy, convenient and fast. LendTrade is the only place where traders can build opportunities with knowledgeable buyers and sellers to find the deals that fit their objectives.