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Home News StreetShares secures $200 million for veteran-owned small businesses

StreetShares secures $200 million for veteran-owned small businesses

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StreetShares, the peer-to-peer lending marketplace for small business loans, has announced commitments from Direct Lending Investments, Community Investment Management (CIM) and Eagle Bank Corp for more than $200 million in funding to back loans on the StreetShares marketplace, with a focus on funding veteran-owned small businesses.

Direct Lending Investments, a business loan investment fund, and CIM, an impact investment asset management firm, will fund $200 million in small business loans over a four-year period. Eagle Bank Corp, a community bank in Maryland, Virginia and Washington, D.C., opened a warehouse line for StreetShares.

"Marketplace lending is exploding," Direct Lending Investments President Brendan Ross said. "Our mission is to put money to work fueling healthy small businesses. We are excited about this business partnership with StreetShares and the unique business owners they serve."

"StreetShares provides responsible and transparent financing to underserved small businesses to drive economic growth and job creation," CIM Managing Partner Jacob Haar said. "We believe their innovative approach to lending and focus on veteran-owned small businesses creates significant long-term value for borrowers, local communities and investors, and we are pleased to partner with them."

Direct Lending Investments, CIM and Eagle Bank Corp join StreetShares' current investor members, comprised of qualified individual investors and investment funds that bid to back portions of small business loan requests on StreetShares. The StreetShares marketplace combines the lowest bids into a single loan for the small business, a technique designed to decrease the borrower's cost to the lowest possible rate.

The majority of StreetShares loan recipients are small businesses owned by U.S. military veterans. StreetShares has formed the nation's largest coalition of veteran-focused small business, entrepreneurship and service organizations. StreetShares' exclusive partners serve a collective membership of more than two million U.S. military veterans. For a video on how StreetShares works, click here.

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Did you know?

A veteran’s family must request a United States flag.

A flag is provided at no cost to drape the casket or accompany the urn of a deceased veteran. Generally, the flag is given to the next of kin. Only one flag may be provided per veteran. Upon the request of the family, an “Application for United States Flag for Burial Purposes” (VA Form 21-2008) must be submitted along with a copy of the veteran’s discharge papers. Flags may be obtained from VA regional offices and most U.S. Post Offices.