LendingUSA, a U.S.-based fintech lender that provides loans to small businesses ranging from $1000 to $35,000, announced on Monday it has appointed Narine Yenovkian as its new Vice President of Compliance. LendingUSA reported that in her new role, Yenovkian will lead the Compliance Department in the management of policies and procedures, legal and regulatory changes, as well as identifying, monitoring, and remediating any compliance risks.
According to the online lender, Yenovkian’s most recently served as Westlake Financial Services’ Regulatory Compliance Counsel, where she was responsible for monitoring regulatory and legal developments, impacts to various business lines and programs, and creating and revising policies and procedures. Speaking about her role at LendingUSA, Yenovkian stated:
“I am thrilled to join LendingUSA and look forward to helping the company solidify its commitment to compliance and enhance its strategy as we continue to grow.”
Camilo Concha, Founder and CEO of LendingUSA, added:
“I’m very excited about Narine’s addition to our Compliance department as well as for the extensive experience she brings with her. Narine will be an invaluable asset to help LendingUSA navigate the compliance landscape.”
The appointment of Yenovkian comes just a couple of months after LendingUSA scored a $200 million investment commitment from Atalaya Capital Management, a New York-based privately held investment advisory firm. As previously reported, LendingUSA specializes in point of need and direct-to-consumer financing solutions for the elective medical industry, dental care, pets, pet care, consumer goods and services, etc. It also powers a proprietary network of websites that provide thousands of personal loans each month to meet a variety of needs.
“Since its inception, LendingUSA has grown to over 10,000 merchant clients nationwide and has processed over $2 billion in borrower loan requests. LendingUSA offers its merchants access to its easy-to-use platform that allows them to complete applications in a matter of minutes and receive loan decisions within seconds.”