A former head of small business finance at American Express has been hired by an alternative lender, potentially signaling changes for the company.
An announcement by LendingPoint on Thursday (Aug. 11) said American Express' former head of global commercial lending, chief credit officer for its small business card division and senior president of enterprise growth risk and information management will join LendingPoint as chief revenue officer.
Houman Motaharian will focus on data and lending technologies while at LendingPoint, the company said, and will bring his expertise in B2C and B2B payments and lending to the company.
"His credit and risk knowledge is unparalleled in the financial services industry, and the considerable skills he brings to LendingPoint will further fortify our expanding position in the underserved credit arena," said LendingPoint CEO Tom Burnside in a statement. "Houman joins us during a stage of fast-paced growth, with great things on the horizon."
While the CEO did not elaborate on plans for the company moving forward, it is interesting to note that Motaharian brings to LendingPoint, a consumer lending company, expertise in small business finance.
By the end of this month, LendingPoint says it will have provided more than $100 million worth of consumer loans in the two years since the company first launched.
"Having known the founders of LendingPoint for years, these leaders have the sharpest minds in lending today," said Motaharian in a statement. "Serving on their board of directors has allowed me to see firsthand their commitment to serving customers with credit scores between 600 and 700, and now, I can add my passion to theirs and bring big ideas to life by collaborating with this phenomenal team."
Late last year, LendingPoint announced a $100 million credit facility for its consumer lending activity.