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Problem: Local financial institutions don’t have the access to resources or multiple branches that a larger bank like JPMorgan has. So, usually, local community lenders find a niche, and double down on 1 type of lending products. But, that creates at least 2 problems:

• An over concentration in geography
• An over concentration in 1 lending product

So Ian Lampl stepped in, and by comparing lending to the bond market, LoanStreet was born.

On this episode, Ian tells us all about his end-to-end lending platform that 600 local financial institutions are already falling in love with. 

What we talked about:

• Community lenders had 2 problems: geography & product
• Most people thought ‘matching’ would solve the issue
• The problem wasn’t ‘matching.’ The issue was infrastructure
• How LoanStreet modeled their loan platform after the bond market
• LoanStreet’s platform is actually better than the bond market’s standardization model 
• Example LoanStreet in action

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Until next time!