SOURCE: Progreso Financiero

Progreso Financiero

October 08, 2014 08:00 ET

Progreso Financiero Ranked Among Inc.'s Fastest Growing Private Companies

High Growth Lender Has Funded Over One Billion Dollars in Responsible and Affordable Loans

REDWOOD CITY, CA--(Marketwired - Oct 8, 2014) - Progreso Financiero, a mission-driven, high growth financial services company serving the credit needs of the growing Hispanic market, announced today more details as part of being named to Inc. magazine's eighth annual Inc. 500|5000, an exclusive ranking of the nation's fastest-growing private companies.

The company is in the top 11% of the fastest growing private companies in the U.S. Progreso is ranked 29th among a direct peer group of 367 companies with revenue between $50 million and $100 million and 35th among 278 financial services companies.

"We are honored to be recognized among such impressive peers as one of the country's fastest growing private companies and a leader in affordable lending," said Raul Vazquez, CEO of Progreso Financiero. "As a social enterprise, we look forward to building on this achievement by expanding to help even more customers construct a better future through access to affordable, credit building loans."

Progreso Financiero, certified by the United States Treasury Department as a Community Development Financial Institution since November 2009, leverages a proprietary risk-scoring platform to accurately assess loan applications and extend installment loans of up to $5,000 to borrowers with little or no credit history. By offering lower fees and interest rates than widely available alternatives, Progreso estimates that it has saved its customers more than $170 million in charges. 

For more information about Progreso Financiero, please visit http://www.progressfin.com.

About Progreso Financiero
Progreso is a mission-driven, high growth financial services company providing credit-building, affordable loans that help the Hispanic community build a better future.

Progreso leverages its unique technology platform to perform automated risk scoring and augment back-office productivity. The service experience is designed with the Hispanic customer in mind and delivered through a network of 118 locations, conveniently situated in heart of Hispanic neighborhoods, and three call centers. The staff at the stores and call centers speak Spanish and excel at understanding our Hispanic customers' needs.

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