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Company: LoanPro, Farmington, UT
Company Description: LoanPro offers the first truly API-based lending solution in the US/Canadian marketplace. LoanPro is hosted on Amazon Web Services (AWS), and is designed to streamline workflow in the loan servicing and collections processes. Lenders enjoy increased transparency, control, flexibility, real-time database access, calculation accuracy, and scalability, on a PCI-DSS & SOC I & II certified platform.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Fastest Growing Tech Company of the Year - Up to 100 Employees
 Nomination Title: LoanPro
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since January 1 2020, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 167 words used.
LoanPro was founded by three brothers, Rhett, Ben, and Lloyd Roberts, with a single purpose in mind: Make lending simple. While working six days a week financing used cars, the founders were unsatisfied with the lack of transparency and inaccuracy that most outdated lending platforms offered. They made their own lending platform that met their needs and filled a massive hole in the lending industry, soon, other lenders were asking to use the software that they had built. What started as a lending platform for automotive lenders, transformed into an enterprise ready loan servicing solution for nextgen lenders.
The LoanPro founders have been head-down building product for the past 15 years, and now have a software that is capable of dominating the loan servicing market, and fills a very important need as more businesses look to bolt lending services on to their existing operations. LoanPro Loan Management Software has been available since 2016, but has been seeing exponential growth, and has exploded to new heights in 2021.
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2020 that you wish to bring to the judges' attention (up to 250 words):
Total 115 words used.
LoanPro has been on a roll. They placed number 258 on the 2020 Inc.5000 list of fastest growing companies (33 for the software Industry) with a 3 year growth increase of 1,785%. LoanPro moved into their new office building in July of 2021, and had a grand opening celebration that included some of the biggest names in Utah Fintech. Also in July of 2021, LoanPro secured a $100 Million Series A funding round from FTV capital, tying the largest Series A in Utah’s history, and believed to be one of the largest nationally. With this funding, LoanPro has been able to expand its workforce by over 40% in the last 3 months alone
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 157 words used.
LoanPro has picked up key players in the lending ecosystem as their loan manager of choice, companies such as: Brex, Rocket Loans, Snap Finance, Credova, Med Zero, Medallion Bank, and Axcess Financial are a few clients that LoanPro has gained in 2021 alone, including an exciting new partnership with Finicity, a Mastercard company.
LoanPro’s growth rate and rapid expansion is a testament to the software that was created to simplify lending. With the democratization of lending becoming more prevalent and new trends rapidly emerging, LoanPro is unique in its ability to pivot quickly, unlike other softwares in the space that are limited to very specific products. For example, the emergence of Buy Now Pay Later has many looking for a lending software that can handle this new trend. While traditional softwares go back to the drawing board to build this into their system, a simple configuration inside of LoanPro allows this service to be done in moments.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 38 words used.
Inc.5000: https://finance.yahoo.com/news/loanpro-ranks-no-258-three-105500422.html
Series A: https://loanpro.io/blog/loanpro-secures-100-million-series-a-investment-from-ftv-capital
New Office: https://loanpro.io/blog/loanpros-grand-opening-day
Medallion Bank: https://loanpro.io/blog/medallion-bank-selects-loanpro
Finicity/Mastercard: https://www.prnewswire.com/news-releases/loanpro-enhances-loan-servicing-platform-with-finicitys-open-banking-network-301417941.html
Fastest Growing: https://loanpro.io/blog/loanpro-selected-for-silicon-reviews-fastest-growing-private-companies-to-watch
Axcess Financial: https://loanpro.io/blog/axcess-financial-announces-partnership-with-loanpro
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