E-Loan, Inc. is a Rosemont, Illinois

Rosemont, Illinois

Rosemont is a village in Cook County, Illinois, United States located immediately northwest of Chicago. The village was incorporated in 1956, though it had been settled long before that...

-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.

Popular, Inc.

Popular, Inc., is a financial services conglomerate that has been operating in Puerto Rico for almost 115 years and in the United States for over 52 years. In recent years, it has expanded into other areas of the Caribbean and Central America. It is better known as Banco Popular, but it is also...

 said E-Loan would no longer operate as a direct mortgage lender in 2009, but would continue to provide certificates of deposit

Certificate of deposit

A certificate of Deposit is a time deposit, a financial product commonly offered to consumers in the United States by banks, thrift institutions, and credit unions....

 and savings account

Savings account

Savings accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money . These accounts let customers set aside a portion of their liquid assets while earning a monetary return...

s. Operational, general and administrative support functions would be transferred to other Popular subsidiaries. The company subsequently moved its headquarters in 2009 from Pleasanton, California

Pleasanton, California

Pleasanton is a city in Alameda County, California, incorporated in 1894. It is a suburb in the San Francisco Bay Area located about east of Oakland, and west of Livermore. The population was 70,285 at the 2010 census. In 2005 and 2007, Pleasanton was ranked the wealthiest middle-sized city in...

 to Rosemont, Illinois

Rosemont, Illinois

Rosemont is a village in Cook County, Illinois, United States located immediately northwest of Chicago. The village was incorporated in 1956, though it had been settled long before that...

.

Company officials said customers who have already obtained loans through E-Loan would not be affected.

History

E-Loan was founded by Janina Pawlowski and Chris Larsen

Chris Larsen

Chris Larsen is the chairman and founder of E-loan and the co-founder of Prosper Marketplace. Larsen received a B.S. degree from San Francisco State University and a M.B.A. from Stanford University. In 1996 Larsen founded the Palo Alto Funding Group which later became E-Loan in 1996...

 in 1997 to provide customers with access to mortgage loan

Mortgage loan

A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan...

s over the Internet

Internet

The Internet is a global system of interconnected computer networks that use the standard Internet protocol suite to serve billions of users worldwide...

. In 1998, the company received venture capital funding from Sequoia Capital

Sequoia Capital

Sequoia Capital is a Californian venture capital firm located on Sand Hill Road in Menlo Park, California. The Wall Street Journal has called Sequoia Capital "one of the highest-caliber venture firms", and noted that it is "one of Silicon Valley's most influential venture-capital firms"...

.

Awards

Since its inception, E-Loan has garnered various awards for privacy and ease-of-use:

• Top Financial Company for Privacy by TRUSTe and the Ponemon Institute (April 2007)
• Ranked #3 in Privacy by The Customer Respect Group (August 2005) E-Loan was the only financial services company and the highest ranking online company to make the top ten.
• Safest Places On the Web. Computer World
  Computer World
  Computer World is the eighth studio album by the German electronic music band Kraftwerk, released in May 1981. The album deals with the themes of the rise of computers within society. Critics see this album as a peak in the career of Kraftwerk, along with Autobahn and Trans-Europe Express...