NEW YORK, Nov. 23, 2015 /PRNewswire/ -- Funding Wonder, an online lending platform focused on small business loans, has retained NewOak Asset Management LLC, an SEC-registered investment adviser, to provide credit evaluation and asset management services in connection with loans originating on Funding Wonder's platform. This relationship provides Funding Wonder with the operational depth and proven asset management skills to pursue its growth strategy for the coming year.
Funding Wonder is complementing its peer-to-business funding model with a strategy of acquiring and holding loans using privately raised capital from institutions and high net-worth individuals. The company has created a special purpose vehicle to fund small business loans for franchise businesses originated under the Funding Wonder online platform, and through pooled investment vehicles that will purchase Funding Wonder loans along with investments in a variety of comparable credit assets.
"We are very enthusiastic about our strategic alliance with NewOak", said Michael Mildenberger, CEO of Funding Wonder. "They will provide an independent and rigorous credit review of loans, as well as the asset management skills to optimize value for our investors. We think the ability to have access to a dedicated pool of capital is important for us as a small-business lender. It will inspire confidence in our origination channels and insure a steady supply of high quality, high-yielding loans."
According to Ron D'Vari, CEO of NewOak, "Online lending platforms that target the underserved small business market are poised for substantial growth. By providing sophisticated independent management, we are confident that NewOak will enhance Funding Wonder's capacity to grow its loan portfolio while maintaining focus on managing its platform and developing origination channels."
About Funding Wonder
FUNDING WONDER, INC. is an online Social Lending Community that connects established small and medium businesses looking for loans with investors seeking good returns. Small businesses often don't have access to capital because traditional lenders have shied away from small business loans. Investors, in turn, are looking for reliable alternatives to bonds and equities that offer a fixed interest rate with high returns. Funding Wonder brings together quality businesses with investors in a trusted, easy to use lending marketplace. Visit Funding Wonder on the web at www.fundingwonder.com
About NewOak Asset Management
NEWOAK ASSET MANAGEMENT LLC is led by CEO Ron D'Vari, former head of structured finance at BlackRock. NewOak, with over $400 million of assets under management, recently launched two private funds focused on jumbo mortgages. Founded in 2008, NewOak boomed during the mortgage crisis, where its ability to forensically re-underwrite huge mortgage pools involved in litigation and to value complex financial assets for institutions fueled a high-end consulting and advisory practice. This in turn led the firm back into asset management, with a focus on ABS and other financial assets. Visit NewOak on the web at www.newoak.com
SOURCE Funding Wonder, Inc.