| Type | Public |
|---|---|
| Industry | Financial services |
| Founded | 1997 |
| Founder(s) | Janina Pawlowski and Chris Larsen |
| Headquarters | Rosemont, Illinois |
| Key people | Mark Lefanowicz, president |
| Products | Savings accounts & CDs |
| Employees | 300 |
| Parent | Popular, Inc. |
| Website | www.eloan.com |
E-Loan, Inc. is a Rosemont, Illinois-based financial services company that offers savings accounts and certificates of deposit (CDs) and access to partners that may be able to assist customers in obtaining loans.
In October 2008, E-Loan's parent company, Popular, Inc. said E-Loan would no longer operate as a direct mortgage lender in 2009, but would continue to provide certificates of deposit and savings accounts. Operational, general and administrative support functions would be transferred to other Popular subsidiaries.[1][2] The company subsequently moved its headquarters in 2009 from Pleasanton, California to Rosemont, Illinois.
Company officials said customers who have already obtained loans through E-Loan would not be affected.[3]
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E-Loan was founded by Janina Pawlowski and Chris Larsen in 1997 to provide customers with access to mortgage loans over the Internet. In 1998, the company received venture capital funding from Sequoia Capital.[4]
The company cut over 500 jobs as part of a restructuring plan in November 2007.[5]
Since its inception, E-Loan has garnered various awards for privacy and ease-of-use: