CrediVia Celebrates Borrower Launch with Friends in Hospitality and Fintech
RALEIGH, N.C.--(BUSINESS WIRE)--Sep 24, 2018--CrediVia, a marketplace driving smarter decisions and real relationships in hospitality financing, today officially opens its platform to borrowers. To celebrate, the company is debuting its technology with a live demo at FinovateFall in New York while also showing at The Lodging Conference in Phoenix.
CrediVia launched its marketplace earlier this month to enable a simpler and faster commercial loan process. The platform uniquely addresses key pain points that both borrowers and lenders face, intently matching each loan request to viable financing options based on criteria designed to help take the deal through closing.
Kevin Hester, EVP and chief lending officer of Centennial Bank in Arkansas, joins CrediVia at both conferences this week as one of its five advisory board members. He boasts over 32 years of financial industry experience, much of it in commercial real estate lending. Of CrediVia’s launch, Hester noted, “There was $42 billion in hotel loans alone originated and underwritten in 2017, a figure that’s growing. It’s a mostly or completely manual process that’s expensive, time consuming and inconsistent, especially in sourcing qualified leads. CrediVia has the potential to change all of this. Its single gateway for borrowers and lenders will ensure we get the application details needed to expedite a loan’s submission and approval. And, borrowers will be able to identify the right lender and best terms for their specific need, at a much faster pace.”
Alongside Hester, CrediVia’s advisory board members are:Munish Bansal, previously CFO of Home Partners of America and portfolio manager and treasurer of JPMorgan Chase Mortgage. He has diversified experience managing mortgage portfolios of more than $200 billion and is well versed in loan pricing, risk management and reporting. Rohit Gupta, president and CEO of Genworth’s U.S. Mortgage Insurance business, works with lenders, regulators and policy leaders to advocate for the value of mortgage insurance to a sustainable housing finance system. Ajit Sivadasan, a data-driven executive, manages Lenovo’s global web strategy across more than 90 countries. He directs the company’s online sales and marketing for both B2C and B2B channels, helping broaden its footprint to grow the business over sixfold, and has experience creating and executing digital transformations through technology. Pamposh Zutshi, leading marketing for a global provider of automotive software, IoT solutions and cybersecurity platforms. Previously, he served in executive roles at USAA and Dell, has consulted with leadership teams at large and small growth businesses, and was an entrepreneur himself.
CrediVia has also forged a strategic partnership with the Asian American Hotel Owners Association (AAHOA), the largest association of hotel owners in the world. AAHOA helps connect CrediVia to thousands of borrowers, revealing the vast financing potential available through the marketplace as well as a digital, intuitive application and funding experience. AAHOA Chairman Hitesh (HP) Patel, said, “AAHOA is grateful to have CrediVia’s support. We look forward to working with them as they inform our 18,000 members about the financial services they provide.”
Through CrediVia, borrowers centralize all data and documents for any loan request, entering and uploading information only once before being submitted to multiple lenders. Lenders on the marketplace have prospective borrowers who meet their criteria sourced directly to them. They receive a complete loan package at the onset to expedite decisioning, as well as detailed reporting to assist in the loan’s underwriting and review.
Anuj Mittal, co-founder and CEO of CrediVia, added, “This is an exciting week for us, showing our technology and passion for change to mass audiences in full force. We are thankful for the support of our advisory board members and new partner AAHOA as we increase the reach of CrediVia every day. This can be the beginning of a new standard for CRE financing.“
CrediVia is a cloud-based platform that directly connects hospitality lenders and borrowers, allowing them to have the greatest potential for mutual success. The online marketplace keeps the application process simple, fast and transparent without sacrificing the loan’s integrity. CrediVia becomes borrowers’ return source for new financing, and lenders’ reliable partner for loan relationships tailored to their portfolio. Visit CrediVia.com or follow @CrediVia for more information.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180924005261/en/
CONTACT: for CrediVia
Megan Fort, 678-781-7223
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