Book Reviews | Gordon Campbell | News Flashes | Scoop Features | Scoop Video | Strange & Bizarre | Search

 


E-Loan – Eventures First Fruit

The global expansion of the on-line lending broker E-Loan reached NZ yesterday with the official launch of E-Loan’s New Zealand arm - http://www.eloannz.co.nz.

The launch of the site is the first fruit of the recent $30 million IPO of the Craig Heatley / News Limited / Softbank venture capital fund Eventures. Eloan New Zealand is a joint venture between E-Loan.com – the US parent company and owners of the technology – and Eventures.

Turnaround from initiation of the project , to implementation, has been remarkably quick over just 2.5 months.

The site is an consumer intermediary site which enables would bel borrowers to compare the availability and costs of home loans from a range of lenders, so far 18.

The company has an initial staff of 15, including 8 loan consultants, who will be available on-line and by phone to arrange loans from 8am to roughly 10.30pm daily.

As at the launch yesterday 18 lenders were involved offering 200 loan products.

On visiting the site the viewer is asked a series of questions – how much to borrow? term? what is the value of security? do you want to repay early? Etc. The computer then generates a list of loans available calculating from the fee structure and interest rate an indicative finance rate and a monthly repayment figure.

E-Loan CEO Bruce Gordon told Scoop the launch in NZ followed launches in the UK late last year, in France and Germany shortly after, in Australia in February and in Spain two weeks ago. In addition a Japanese version of the site has been running for a year.

In the US E-Loan is the brand-leader in a competitive market in on-line brokerage services with 25% of online brokerage share representing roughly 2.5% of the total US lending market. Collecting roughly 0.8% to 1% in commission’s it is easy to see this is a tidy earner.

Growth in turnover in the US over the last three years has been at over 100% per annum. Elsewhere Gordon says growth is very hard to forecast as the site is pioneering the market. So far the launch in Australia is described as ”steady”.

In NZ the company will be pursuing a traditional media marketing strategy starting next month and is in the process of developing relationships with significant portal sites. “Whereever our customers are on the net that is where we want to be,” Mr Gordon said.

See also…

E-LOAN to transform online loan services

and

E-LOAN - frequently asked questions -

both in the Business wire.


© Scoop Media

 
 
 
 
 
Top Scoops Headlines

 

Werewolf: Living With Rio’s Olympic Ruins

Mariana Cavalcanti Critics of the Olympic project can point a discernible pattern in the delivery of Olympics-related urban interventions: the belated but rushed inaugurations of faulty and/or unfinished infrastructures... More>>

Live Blog On Now: Open Source//Open Society Conference

The second annual Open Source Open Society Conference is a 2 day event taking place on 22-23 August 2016 at Michael Fowler Centre in Wellington… Scoop is hosting a live blog summarising the key points of this exciting conference. More>>

ALSO:

Buildup:

Gordon Campbell: On The Politicising Of The War On Drugs In Sport

It hasn’t been much fun at all to see how “war on drugs in sport” has become a proxy version of the Cold War, fixated on Russia. This weekend’s banning of the Russian long jumper Darya Klishina took that fixation to fresh extremes. More>>

ALSO:

Binoy Kampmark: Kevin Rudd’s Failed UN Secretary General Bid

Few sights are sadder in international diplomacy than seeing an aging figure desperate for honours. In a desperate effort to net them, he scurries around, cultivating, prodding, wishing to be noted. Finally, such an honour is netted, in all likelihood just to shut that overly keen individual up. More>>

Open Source / Open Society: The Scoop Foundation - An Open Model For NZ Media

Access to accurate, relevant and timely information is a crucial aspect of an open and transparent society. However, in our digital society information is in a state of flux with every aspect of its creation, delivery and consumption undergoing profound redefinition... More>>

Keeping Out The Vote: Gordon Campbell On The US Elections

I’ll focus here on just two ways that dis-enfranchisement is currently occurring in the US: (a) by the rigging of the boundary lines for voter districts and (b) by demanding elaborate photo IDs before people are allowed to cast their vote. More>>

Ramzy Baroud: Being Black Palestinian - Solidarity As A Welcome Pathology

It should come as no surprise that the loudest international solidarity that accompanied the continued spate of the killing of Black Americans comes from Palestine; that books have already been written and published by Palestinians about the plight of their Black brethren. In fact, that solidarity is mutual. More>>

ALSO:


Get More From Scoop

 
 
 
 
 
 
 
Top Scoops
Search Scoop  
 
 
Powered by Vodafone
NZ independent news