PRINCETON, N.J., March 3, 2015 /PRNewswire/ -- Princeton Alternative Funding, LLC, (PAF) has entered into an exclusive partnership with the MicroBilt Corporation, the world's leading alternative credit bureau. The union affords PAF the ability to monitor key traditional and nontraditional data previously unavailable for consumer borrowers nationwide.
Princeton Alternative Income Fund provides lines of credit (LOC's) to finance companies making short term consumer loans in the non-prime or alternative market.
"With more than 3 times the alternative market data than the Big Three consumer credit bureaus combined, MicroBilt brings robust analytics to our underwriting process," stated PAF Managing Partner, Bert Szostak. "From inception we can monitor the borrower (consumer), the business that made the loan, the vertical it resides in and a host of other metrics."
There is a real industry need for targeted, actionable data to benefit investors interested in sub-prime loan origination and performance. Since the tumultuous financial issues of the last decade, banks have slowly but steadily exited the sub-prime lending market, thereby shrinking the options consumers have when seeking loans. However, this has provided a beneficial opportunity for alternative lenders willing to provide capital to fill the void. MicroBilt provides data to over 4000 lenders operating in the alternative marketplace lending space.
The sub-prime sector -- made up of those who are underbanked or have small credit profiles -- currently comprises about 110 million Americans. This represents a significant market for PAF as it strives to deliver risk-adjusted yield to P2P and other institutional investors.
About Princeton Alternative Funding, LLC
Princeton Alternative Income Fund was created to offer accredited and institutional investors the opportunity to achieve substantial returns in the growing non-prime, small business lending space. Finance companies issuing consumer-oriented loans offer benefits to borrowers, lenders and investors alike. A broad consumer loan base spread nationwide through geographical and industry verticals allows for diversification and low risk correlation.
About MicroBilt
MicroBilt Corporation is the single source and preferred provider of decision critical information, which, for over 37 years, has responsibly assisted businesses in reducing risk and managing their credit business with advanced proprietary technology. www.MicroBilt.com
Media contact:
Bert Szostak
[email protected]
Managing Partner
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SOURCE Princeton Alternative Funding
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