Los Angeles based Pheabs.com, a leading online loans connection service, is celebrating its eighth anniversary after eight years of helping consumers across the United States and Canada connect with loan options through its network of lenders.
Founded in 2018 by Daniel Tannenbaum, Pheabs was created with a simple goal: to make the process of finding a loan easier, clearer, and more accessible for consumers who may be struggling to find the right borrowing option.
Over the past eight years, Pheabs has grown from a new business into an established online loan connection service. The company now works with more than 50 lenders across the US and Canada, helping match customers with lenders based on their individual circumstances and loan requirements across unsecured, instalment, cosigner and credit card options.
For the Pheabs founder, the anniversary is an opportunity to reflect at how far the company has come while staying focused on its original purpose.
“Eight years ago, I set up Pheabs because I wanted to create a service that could help people find borrowing options without making the process confusing or expensive,” said Daniel Tannenbaum, Founder of Pheabs. “We want to give customers useful information, help them understand their options, and connect them with lenders that may be suitable for their needs.”
Daniel brings more than 15 years of experience in the payday loan and consumer credit industry in the UK and United States after starting his career at the notorious British lender, Wonga. During his career, he has worked across many areas of the industry, including underwriting, customer service, customer scoring, development, and marketing.
That experience has helped shape the way Pheabs operates today. The company says it has seen both the benefits that responsible borrowing can provide and the financial difficulties that can arise when consumers take on loans they cannot afford.
Pheabs has placed a strong focus on providing educational resources and financial information alongside its loan connection service. The company publishes guides and research covering personal loans, payday loans, debt consolidation, credit, financial literacy, and other topics designed to help consumers better understand their choices.
The company does not charge customers a fee for submitting a loan request. Instead, Pheabs may receive a commission from a lender or partner when an application is successfully completed and funded.
Technology has also played an important role in the company's development. Pheabs says its application process uses thousands of data points to help match customers with potential lenders, taking factors such as loan amount, credit history, income, employment status, and other information into consideration.
The company's anniversary also provides an opportunity to recognize its work outside of the financial services industry. Pheabs has supported community organizations, debt charities, chambers of commerce, and charitable causes over the years. To date, the company has donated more than $25,000 to the National Breast Cancer Foundation Inc and last year tied up with the University of Pittsburgh to sponsor their inter-faith basketball programme.
“Honestly, I am also just thrilled to still be here,” Daniel added. “Especially when around 50% of startups fail every year. I am very proud of what the Pheabs team has achieved over the last eight years, and I am excited about what we can build together over the next eight.”
The company will continue to encourage consumers to compare their options carefully, understand the costs and repayment terms of any loan, and consider lower-cost alternatives where appropriate.
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