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.