MOSTLY MONEY with Preet Banerjee
46: How Online Lenders Compete with Big BanksApril 24, 2016 Preet Banerjee
Andrew Graham is the CEO of Borrowell, an online lending marketplace for Canadians. We discuss where the idea for Borrowell came from and what kind of financial consumer makes up their target market. Borrowell is aiming to take a chunk out of the high interest rate credit card market in Canada by offering term loans for unsecured debt at lower rates. We also delve into where Borrowell gets the money to fund these loans, what kind of rates they offer, the average loan amount taken out by their users, and more.