As the fintech grows, CEO Everett K. Sands says Wen will bring his 20 years of experience to a role focused on innovative capital strategies
LOS ANGELES, CA / ACCESSWIRE / June 27, 2024 / Lendistry announces today that a new Chief Financial Officer, Clark Wen, joined its leadership this week, making a clean transition as their previous CFO, Jeffrey J. Alfano, leaves the firm.
As Lendistry emerged from its rapid response to the pandemic, Jeffrey Alfano helped the company rebuild its offerings for small business loans, SBA 7(a) loans, and commercial real estate. Under his leadership, Lendistry was granted a $100 million bond guarantee through the U.S. Treasury's CDFI Fund and closed an $85 million Senior Notes Offering with 25 socially-responsible banks and insurance companies, which was one of the largest institutionally-led capital raises by a CDFI in 2022. The notes received an investment grade "A" rating from Egan Jones.
Clark Wen has more than 15 years of experience in consumer finance and SMB lending, most recently serving as Managing Director at Crestline Investors where he made private credit and preferred equity investments through Crestline's opportunistic credit platform. In this role, he spearheaded Crestline's specialty finance strategy, investing over $800 million to support financing businesses in rapid growth cycles, dislocated markets, or underserved consumer segments. His experience before Crestline includes roles at Black Diamond Capital Management's Private Equity Team and EY's Corporate Finance Practice. Wen also served on the Board of Directors at Ironhorse Funding and Foxpoint.
"I'm excited to join Lendistry where forward-thinking innovation and responsible execution are in balance," says Wen. "As I move from the investment side to the operating side of consumer finance, I hope to play a transformative role within Lendistry's leadership and for the small businesses and communities we serve."
"Jeff leaves our company well-positioned to experience this change with minimal impact, and I thank him for his stellar work," says Everett K. Sands, CEO of Lendistry. "We chose Clark to elevate our capital raising strategy and support the next phase of our growth as we enter new industries in which small businesses and undercapitalized communities have lacked responsible lending partners for too long."
About Lendistry
B.S.D. Capital, Inc. dba Lendistry (lendistry.com) is a minority-led fintech that provides innovative lending products for small businesses and administers grant programs for government agencies nationwide. Headquartered in a Los Angeles Opportunity Zone, Lendistry uses technology and community partnerships to overcome systemic barriers to capital access. In 2024, Lendistry CEO Everett K. Sands was an Entrepreneur Of The Year® Greater Los Angeles award winner. Lendistry has both Community Development Financial Institution (CDFI) and Community Development Entity (CDE) certifications and is a member of the Federal Home Loan Bank of San Francisco. Lendistry SBLC, LLC is an SBA Preferred Lender and the nation's only African American-led SBA designated Small Business Lending Company. In collaboration with The Center by Lendistry, a nonprofit business education organization, Lendistry provides economic opportunities and progressive growth for underserved urban and rural small business borrowers and their communities.
Contact Information:
Kate Kearns
Communications manager
[email protected]
SOURCE: Lendistry
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