LendStreetCEO: R. Jerry Nemorin
Financial distress is a major problem plaguing American households and impacting employee productivity. Nearly half of all Americans are unable to come up with $2,000 within 30 days to cope with a financial shock. Financially distressed employees are spending 12 – 20 hours per month dealing with their personal finances at work. LendStreet is a lending platform that helps distressed consumers get a low interest loan to settle existing debt with their creditors. We combine credit counseling and debt modification into a lending platform to help distressed consumers reduce their debt, lower their interest, get payments that fits their budget, and rebuild their credit profile. The structure allows us to provide relief for clients, improve recovery for creditors, and create a high yield asset for investors.