HOBOKEN, N.J., April 12, 2016 /PRNewswire/ -- Promise Financial, the first marketplace lending platform focused on wedding financing, announced today that Bob Huth, the former President & CEO of David's Bridal, has joined Promise Financial as a Senior Advisor. Mr. Huth spent over 15 years at David's Bridal and is credited with leading the company's transition from an entrepreneurial family business into the leading national bridal chain.
"For a long time, I have believed that the wedding industry could greatly benefit from a financing option that allows couples to pay for wedding expenses over time, just like other large purchases," said Mr. Huth. "I look forward to contributing to Promise Financial and believe the company can have a transformative impact on this very large, yet financially underserved, industry."
Promise Financial provides access to financing that allows people to pay for weddings and other expenses over time, with low rates and transparent pricing. Its leading-edge technology platform provides financing offers in seconds and utilizes big data and next-generation credit models that go beyond FICO scores to better address the needs of customers who are often underserved by the traditional financial system.
Promise Financial is also rapidly growing its point-of-sale financing partnerships with wedding businesses. "We're very excited to have Bob join our advisory team," said Joshua Jersey, CEO of Promise Financial, "and we believe he will have a tremendous impact as we continue to form financing partnerships across the country."
Mr. Huth will join Jorge Calderon, Promise Financial's Chairman, as part of Promise Financial's senior advisory team. Mr. Calderon, who has held senior management positions at Deutsche Bank, including Global Head of Financial Institutions, said, "Bob's involvement is another exciting milestone for us as we continue our rapid growth. I look forward to working with him to bring together our extensive experience across both financial services and the wedding industry."
About Promise Financial
Promise Financial is the only financial technology platform focused on wedding financing. The company's mission is to improve the way people pay for weddings and it has partnered with wedding businesses nationwide to offer financing. Promise Financial was founded in 2014 and is based in Hoboken, NJ. All loans on the Promise Financial platform are originated by Cross River Bank, a New Jersey State Chartered Commercial Bank. Applicant eligibility is without regard to marital status. Additional information is available at www.promisefinancial.com.
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SOURCE Promise Financial