Meet Pheabs, The Loans Connection Service

By Daniel Tannenbaum is the loans connection service started in 2020 by Daniel Tannenbaum helps to match borrowers with the lender who is most likely to approve them and offer the most affordable rates.

The UK-based company is targeting the US market, including the borrowing hotspots of Texas and California, which draws on over 10 years of Daniel’s experience in the consumer finance industry.

“I started my career in 2010 working for one of the UK’s largest short term lenders and then worked with a financial startup for 3 years after,” explains the founder.

“Since then, I have consulted for more than 20 lenders across the UK and with stricter regulation always being introduced, we have had to find far more innovative ways to do marketing and improve the customer proposition.”

“During the first covid lockdown, I had the opportunity to launch, using the technology and expertise that I had acquired from the UK’s heavily regulated market and turning this to the US market which was much larger in size and more accessible in terms of its compliance.”

“One of the biggest problems for consumers looking to borrow money is that lenders are very strict and will decline most applications, especially for those with bad credit. Subsequently, you get borrowers who visit multiple websites, banks and lenders and they do not get approved or the funds they need. It is a long and agonising experience. The opportunity to process thousands of data points and match these with the lender’s criteria was a very exciting premise.”

“When a customer applies for $100 to $35,000 through, their application will undergo over 8,000 different checks based on their location, age, occupation, residence, income, credit status and affordability. The end result is that their loan enquiry will be matched with the best suitable lender that we have partnered up with through a series of APIs. This includes banks, credit unions, private lenders, startup apps and more.”

“ is very technology-driven. Customers can submit their application in under 5 minutes and get an instant quote provisionally on the screen. For smaller amounts, customers can receive funds in 15 minutes or 1 hour, although the average customer will be fully funded within 24 hours or the next business day.”

“In the last month, the site received over 70,000 applications, receiving one almost every 10 seconds. There are clearly some busier times of the month for borrowing, such as Fridays and Monday mornings.”

“Our goal over the next year is to perfect the underwriting process, helping to match and connect borrowers to the best lenders in the most affordable and effective way possible."


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