Point of Need Lending and Saying “Yes” To More Customers

Executive Perspectives Live, one of the top online business shows on C-Suite TV, launches a new episode featuring Houman Motaharian, President of LendingPoint, talking about the reasons point of sale financing lending is on the rise and why his company wants to end the culture of “no” by saying “yes” to more customers.

Host Jeffrey Hayzlett talked to Motaharian about the direct-to-consumer loan industry and the company’s vision. Motaharian says their vision is “to create money on-demand. Our vision is to democratize money and create money on-demand.” He notes the rise of the industry, as LendingPoint processes an average of two hundred thousand applications each month – about $2 billion of on-demand money, with the average request being approximately $10 thousand.

With many Americans living paycheck-to-paycheck and not having enough savings to cover what Motaharian called “life cycle events,” people are turning to companies like LendingPoint to finance these events. He refers to these as “point of need” financing, which include medical emergencies, weddings, and even fertility.

Looking at the year ahead, Motaharian says that “It’s all about technology at the end of the day” with technology moving at a great speed, changing the way people act and behave. He also wants to change the culture of ‘no’ to one where people learn how to say “yes” to one another. He says that “if people learned how to say “yes” to each other, the GDP would go to 45 percent.” Motaharian says it’s all about people and collaboration, to be in a place where people believe in the mission and feel like they contribute to something great.

Motaharian’s role is to ensure they have the best-in-class products so they can build a relationship with merchants. He stresses, “You have to earn their trust,” because without people, no one would be where they currently are.

All episodes of Executive Perspectives Live are hosted by Jeffrey Hayzlett and can be seen on C-Suite TV.

Best-selling author, speaker, and former Fortune 100 CMO Jeffrey Hayzlett created C-Suite TV to give top-tier business executives a forum for sharing thought-provoking insights, in-depth business analysis, and their compelling personal narratives.

“Houman brings a wealth of knowledge, both from a corporate background and from that of a start-up,” Hayzlett said. “With Americans not having enough saved to cover major emergencies, companies like LendingPoint are becoming advocates for people with fair credit while changing the industry with the use of technology.”