These Bay Area FinTech Companies Are Revolutionizing The Lending Space

Fintech is rapidly changing many core aspects of the finance industry, and one of the technologies with the most potential impact is online lending.

Since banks shy away from small-dollar loans with low margins, many entrepreneurs and individuals have historically had trouble getting the capital they need. Online lending has allowed thousands of small businesses to get the funding they need to get off the ground or take their business to the next level.

San Francisco, the site of the Benzinga FinTech Summit on September 28th, is a hub for the growing industry of lending in fintech.

Benzinga is featuring some of the best and brightest upcoming lending companies in the Bay Area. Read on for our next installment of the San Francisco fintech landscape.

Affirm: Affirm’s is a lending company that uses technology to re-build core components of financial infrastructure from the ground up. The company focuses on providing less-expensive, transparent financial products to improve the lives of everyday consumers.

BeSmartee: BeSmartee is an artificial intelligence-powered lending and mortgage platform that originates documents, credit checks, and other financial information in just minutes.

Capsilon: Capsilon builds technology solutions for the mortgage industry’s most imperative challenges. They offer a platform that increases productivity, decreases costs, and enhances compliance. Their flagship product, Capsilon DocVelocity, reduces loan work by up to 80 percent by allowing people to automate key steps along the loan production process.

Credit Sesame: Credit Sesame is a fintech company that operates in the fields of education, credit, and personal finance. The company provides consumers with a free monthly credit score without the necessity of a credit card or subscription.

Earnest: Earnest is a fintech lending company that uses service and technology to provide people with low-interest loans. Examples of these loans include student loan refinancing, parent PLUS refinancing, and personal loans through improved data quality and customization.

Funding Circle: Funding Circle is a marketplace focused on lending loans to small businesses from a wide range of investors, including more than people, councils, a university, and a number of financial organizations.

Home Captain: Home Captain is a lending company that pairs clients with a pre-screened realtor in their area with the help of a real estate concierge throughout the way. Buyers and sellers are provided with the right team to make the most of real estate purchases or sales.

LendUp: LendUp is a socially responsible lender for the emerging middle class, that designs safe, transparent products that expand access, lower costs, and provide credit building opportunities for the 56% of Americans who currently have limited options within the traditional banking system because of low credit scores and income volatility.

Oportun: Oportun is a mission-driven financial services company that uses advanced data analytics and technology to provide responsible, affordable personal loans to the 45 million Americans with little or no credit history. The company's centralized data analytics system calculates each loan applicant's ability to repay, approves those loans the company believes can be paid back, and sets loan amounts and terms to fit individual budgets.

Plum Lending: Plum Lending is a lending company that combines technology with a team of real estate and financial professionals to provide quick execution and high transaction visibility.

SuperMoney: SuperMoney compares financial products and services to give people the information they need to make better financial decisions. The company uses a rating system that takes into account multiple variables, such as price and quality.

Upstart: Upstart is an online marketplace that uses futuristic variables, such as education and employment to provide personal loans based on predicted creditworthiness. The company looks past FICO credit scores to find more high potential borrowers.

If you’re looking for cool fintech startups and access to top financial institutions, and are sick of attending stuffy corporate conferences, the Benzinga Fintech Summit is the event for you. Visit www.bzsummit.com for more details.

Connect with us on social media — use the hashtag #BZsummit and #Fintech to spread the word!