Money360, a commercial real estate online marketplace lending platform, has appointed Gary Bechtel as the new president of the company and Dan Vetter, co- founder of Money360, will be its chief operating officer.
According to itbusiness.net, Mr. Bechtel has more than 29 years of experience in commercial mortgage banking and lending while taking part in the growth and success of some commercial mortgage banking or lending platforms. He was also part in managing the operations of Meridian Capital Group, Hometown Commercial Capital, FINOVA Realty Capital and Johnson Capital Group.
While working as Johnson Capital's chief operating officer and managing director, he managed to make the company's loan origination grow from $1 billion to more than $3 billion per year.
In a report by crowdfundinsider.com, Bechtel, as Money360's new president, will be the one to oversee the company's expansion, build its origination loan processing procedures and maintain good relations with their large- scale investors.
Money360's chief operating officer Evan Gentry said "Gary brings a unique blend of commercial real estate loan and operational experience, and an established network of relationships within the capital markets. His background, experience, and knowledge will play a vital role in helping to take Money360 to the next level, and in accelerating the development of our capital markets."
Bechtel is all the same looking forward to his new role for Money360. He said "I'm delighted to be joining the Money360 team. Online marketplace lending is fundamentally changing the way that commercial real estate borrowers borrow money and investors invest in loans. This type of technology is also currently reshaping the real estate and finance industries. It's an exciting time to be in this industry, and Money360 definitely has an impressive and solid platform for facilitating these type of transactions. So, I look forward to putting my background, experience, and network to use to help Money360 grow."