Aura has originated over $750MM in affordable loans to families since belated 2014
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BAY AREA , March 5, 2020 /PRNewswire/ — Bridge Bank today announced it’s extended a loan that is senior Aura, a mission-driven monetary technology business that gives affordable loans to hard-working families. The funding is supposed to be utilized to guide the business’s quick expansion since it provides affordable service that is financial to underserved communities.
This brand new loan comes during a time period of fast development for Aura where the business has furnished more or less $750MM in loans to almost 344,000 borrowers at 1,050 partner areas since 2014. Aura makes use of technology that goes beyond fico scores to find out borrowers’ capability to repay and allows businesses that are local administer credit applications.
“we have been excited to work well with Aura because of their stellar management and mission-driven approach of supplying economic answers to people that might be ignored somewhere else,” stated Mike Lederman , senior handling manager of Bridge Bank’s technology banking group. “Aura has skilled tremendous development in the last few years and our Bridge Bank group appears ahead to supporting Aura inside their continued development and success.”
“we have been delighted become working together with Bridge Bank, one of many leading types of money for fast-growing startups,” stated James Gutierrez , co-founder and primary executive officer of Aura. ” This financing that is new assist us keep rate with development and empower more hard-working families with your credit-building loans.”