Able Lending has one of the industry’s most unique business models, allowing small business lenders to source loans from their personal network to lower lending costs; Lend Academy interviews Will Davis of Able Lending for more insight on the platform’s business; at Able Lending, personal network backers take a subordinated position, allowing the lead lender to get paid back first while offering a lower cost of borrowing overall; the firm has been successful with this lending model, reporting over 80% of loans utilizing backers; it has also seen steady origination growth, with volume growing from $3 million in the first year to $30 million in the second year and an expected $100 million in its third year. Source
