LendingUSA, a U.S.-based fintech lender that provides loans to small businesses ranging from $1000 to $35,000, announced on Tuesday it has appointed Michael Brown as its new Vice President of Credit Risk and Pricing. The latest appointment comes just weeks after LendingUSA appointed Adam Contino as its new Chief Financial Officer.
According to LendingUSA, Brown has 12 years of experience in the financial industry, which includes eight years at Synchrony, where he served in various roles in risk, analytics, and consulting. He recently served as Vice President of Merchant Analytics and was responsible for analyzing and optimizing merchant enrollment and engagement. Speaking about Brown’s appointment, Jon Barhorst, Chief Risk Officer of LendingUSA, stated:
“LendingUSA is excited to have Michael Brown join our team and strengthen our portfolio management as well as client partnerships. Michael’s background as a credit risk portfolio manager, combined with his experiences in analytics and client consulting, will make him a critical leader on our team. The executive team at LendingUSA is excited to add Michael to our family as we shift towards smart-growth.”
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.”
Less than six months ago, LendingUSA announced it secured a $200 million investment commitment from Atalaya Capital Management.