MLI Marble Lending Inc. (CSE:MRBL) has launched its campaign on the Investing News Network’s fintech channel.
Marble Lending is a financial technology company working to provide financial credit rebuilding strategies for Canadians. The company has developed a platform that provides customers with the digital tools necessary to manage a budget, track spending, make payments, manage a credit score and apply for a loan. The company is focussed on customers that have already entered into a consumer proposal.
Since Marble Lending’s inception in 2016, the company has assisted over 1100 Canadians with managing their debt, funding over $10 million in consumer proposal discharge loans to aid customers. Marble Lending generates revenue through traditional lending practices and is working towards monetizing additional features on its proprietary platform as customers move upstream in the credit space. Marble is the only credit wellness company in Canada that offers an unsecured loan to customers in order to retire an active consumer proposal.
Marble Lending’s company highlights include the following:
- Marble generates revenue through interest and service fees.
- The proprietary financial wellness dashboard includes free monthly credit scores, push email notifications, a real-time budget app, loan application system, and partner agent referral portal.
- The company intends to monetize the dashboard features and information gathered with personalized product offerings.
- Over $10 million in loans funded since its inception in 2016.
- Marble’s credit rebuilding strategies can help restore credit scores to mainstream banking levels in less than half the time of that of traditional government regulated consumer proposal.
- In 2018, over 125,000 Canadians filed for consumer-insolvency and over half (56%) filed as a consumer proposal.
- MNP Ltd., Accounting Firm reported that 46% of Canadians are $200 away from financial insolvency at any given month end.
- Issues flexible, unsecured loans of up to $15,000 with interest rates between 18.99 percent and 24.99 percent for qualified consumers.
- Marble’s loan default rate is less than half than that reported by other underbanks offering traditional loan products.
- Management, Directors and insiders notably own approximately 33 percent of the company’s common shares.