Fintech Startup Magilla Wants to Be the Match.com of Loans

A two-year old fintech company co-founded by a frustrated Hollywood writer-turned funeral home owner is hoping to become the Match.com of lending.

Since its launch in January 2016, Sacramento-based startup Magilla Loans says it’s originated more than $5 billion in loans and is changing the way lenders connect with borrowers. The platform can shrink into a few days what can often be a weeks- or months-long process of loan applications, data submissions and waiting just to get a loan term sheet.

“It’s very similar to a dating app,” particularly for borrowers or lenders with fairly niche interests, one of the ...