Small business lender, Merchant Money Company (MMC), announced on Wednesday it appointed Lynn Fernandez as its new Chief Credit Officer. Fernandez reportedly joins MMC from VEDC, where she was Vice President of Lending for more than five years. She was responsible for leading the firm from a Los Angeles-based lender to expanding operations nationwide in eight states, as well as pioneering the Community Advantage SBA program. Prior to VEDC, Lynn held positions at California United Bank, and City National Bank.
MCC revealed Fernandez is active in the banking community of Los Angeles as a board member of Golden State CDC, a 504 lender, and a member of the Loan Committee of the Pacoima Developmental Federal Credit Union. Previously, she was a board member of Boys and Girls Club in Canoga Park, and New Directions for Youth in North Hollywood, and was named one of 2014’s Influential Latina’s in Latina Magazine.
Sharing her thoughts about the appointment, Fernandez stated:
“MMC already has advanced technology in place. My role will be to use my knowledge and experience to help train the team to improve lending efficiencies. MMC will offer the speed customers want from an online lender, while still offering reasonable rates, promoting the responsible lending that is a pillar of MMC’s business model.”
Everett K. Sands, CEO at MMC, added:
“Lynn has shown a mastery of small business lending, credit servicing, and credit risk management. She will allow us to expand our products that will help our customers like SBA Community Advantage. Most importantly, she will preserve our responsible credit culture.”
MMC noted it would utilize Fernandez’s knowledge in the small business lending credit space to grow their banking partners, and their ability to provide the community with a more expansive suite of products to small business owners in both southern California, and nationwide.