First Associates Loan Servicing, LLC, has partnered with ApplePie Capital, the first marketplace lender to be solely dedicated to the franchise industry.
First Associates Loan Servicing is one the country’s fastest growing loan and lease servicers. ApplePie Capital connects high-quality franchise brands and their entrepreneurs with investors seeking attractive fixed income returns. The franchise industry accounts for 3.5% of the total US GDP and has experienced double digit growth since 2010 – partly due to a surge in people starting up their own businesses after being laid off during the recession. This trend indicates that there is a strong market for franchise business loans.
Denise Thomas, CEO of ApplePie Capital, commented:
"We are very pleased to partner with First Associates Loan Servicing. First Associates' expertise in the P2P / Marketplace Lending space, focus on high-touch customer service, and industry-leading technology makes them the ideal choice to provide servicing to our growing customer base."
David Johnson, CEO of First Associates Loan Servicing, added:
"We are proud to partner with ApplePie Capital. ApplePie Capital is an exciting new entrant in P2P / Marketplace Lending, with an innovative marketplace that offers unique value to franchise business owners and investors. We look forward to growing with them."
First Associates is a leader in servicing peer-to-peer loans and has partnerships with the top companies in this area, such as CAN Capital. It also provides backup for Eaglewood Capital Management’s $75 million securitization of peer-to-peer loans. First Associates is part of a fast growing ecosystem around the peer-to-peer lending industry. The fact that supporting businesses are flourishing is another indication of the success of the P2P lending market.