NEW YORK: British entrepreneur Richard Branson, founder of the Virgin Group known for its airline and music stores, yesterday launched a US company that manages consumer loans between friends and family.
“This is very timely because of what's happening in the US credit markets,” Asheesh Advani, chief executive of Virgin Money USA, told Reuters. “Banks in general are tightening up, so this is a wonderful alternative for people who are looking to seek a loan.”
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