Secured lender, Link Loans, is the first client to sign up to Target’s Lender Launchpad - a service which Target says offers new lenders the assurance of long term control of funds and a flexible and rapid launch platform.
This new contract adds to Target’s list of software and servicing clients who are originating new loan business.
Target Loan Servicing will service the growing Link Loans portfolio, providing all post origination services.
Kam Sanghani, head of operations at Link Loans, says: “We have an ambitious five year growth plan and aspire to become the foremost lender in the secured loans market. Target Loan Servicing’s expertise, robust arrears management approach and suite of tailored processes will enable us to meet our growth plans.
“Partnering with an outsourcing provider that is rated by S&P, has experienced people, and the agility to take on our business requirements from day one are key requirements for us.”
James Snow, CEO at Target Loan Servicing, says: “We’re delighted to be awarded this contract with Link Loans. Their ambitious growth plans promise to make them a real force in the secured lending sector. Target has delivered a flexible, cost effective, compliant and rapid launch platform that offers long term security of funds.”