ARIZONA: The Tucson Hispanic Chamber of Commerce partnered with The Credit Junction, part of a growing wave of online based marketplace lenders, to offer loans from $200,000 to $2 million in Southern Arizona.Small and mid size businesses that have trouble securing a loan from traditional banking sources have a new option in their search for working capital.
We have many banks and credit unions that are members of our chamber and they’re the first place we send businesses, unfortunately in this economic environment not everybody gets approved, said Lea Marquez Peterson, chamber president and CEO.
Marketplace lending, also known as peer to peer, allows non banks to lend to businesses or individuals without a traditional middleman.
