A highly seasoned leadership team who have extensive experience in financial services and technology.
Dave joined BorrowersFirst (BFI) as CEO in February of 2015 and brings with him decades of experience in leading financial services and lending businesses. Prior to BFI, he was President and Chief Operating Officer at Oportun (formerly known as Progreso Financiero), a leading consumer lender focused on the under-served Hispanic market. During his five year tenure, Oportun grew annual revenue from $2 million to over $120 million and emerged as one of the leading disruptors in the alternative lending space. Dave was also the Chief Marketing Officer at Providian Financial (later part of Washington Mutual and Chase). In that position he managed marketing functions and revenue/operating profit lines for a top ten, $28 billion credit card issuer. He was directly responsible for over $6 billion in revenue generation, $1 billion in operating profit, and performance of individual business lines and portfolios. Dave has also held senior positions at American Express and PNC Bank. He holds a Bachelor of Arts from Dartmouth College.
Mike Freedman joined BorrowersFirst as a Founding Employee in July 2013. Mike has over 20 years of experience as legal counsel to the world’s most competitive financial institutions. As General Counsel, Chief Compliance Office and Secretary to the Board of Directors, Mike leads the legal, regulatory, compliance, and corporate governance initiatives of the Company. Mike also advises the Company on a wide variety of business matters, including playing an integral role in the Company’s capital markets and fundraising efforts. Mike had a long successful career as a partner at Orrick, Herrington & Sutcliffe LLP and as senior counsel at Chapman and Cutler. His notable career long clients include Capital One, MBNA/Bank of America, and Discover. He also advised consumer finance clients on a range of corporate, securities and regulatory matters. Freedman holds a JD from American University Washington College of Law and a BA in Philosophy from Duke University.
Gavan joined BorrowersFirst (BFI) in June of 2016. He brings over 25 years of experience and has a proven track record of success leading small businesses to large global organizations domestically and in Europe. He has extensive experience in developing and executing strategic direction, sustained P&L and profitability improvements, attracting/leading high performing and results oriented teams in Finance, Sales, and Marketing. He also consistently demonstrates the ability to influence both internally and externally. At BFI he leads the capital markets, finance, and accounting teams. Prior to BFI, Gavan served as CFO & VP - CFO Services for two startups, CFO & GM – Small/Medium Business for Dell Financial Services, and held senior roles at The Associates (now a part of One Main Financial).
For over 20 years, Terry has had a successful career building technology platforms and systems. As the CTO and a founding employee of BorrowersFirst (BFI), Terry Implemented his vision of a modular dynamic lending solution creating the industry’s first lending as a service platform. This disruptive technology enables BFI to stay on the forefront of the lending space by rapidly creating new products and features with customized borrower and partner experiences. He is responsible for all aspects of software engineering, technology infrastructure, and information security. Prior to BFI, Terry was the CTO of Why Not Lease It and built a real-time credit decision purchase finance platform driving a $1B lease program for Sears. He also founded Solis Security which provides cyber security services to banks and partnered with Fidelity Information Services to form 21st Century Financial Services, an advanced data center providing cutting edge technology solutions to community banks and has held senior positions at Dell, S1 Corporation (nowACI).
Michael Rapaport joined BorrowersFirst in March 2017 bringing 27 years of experience in Credit and Consumer Lending. Michael began his career at FICO where he built early versions of the FICO Credit Score and subsequently managed the FICO Score business line for the US, Canada and Mexico. Michael then spent 6 years at Providian Financial/Washington Mutual where, as EVP of Marketing Services, he oversaw all aspects of Direct Marketing for the credit card and retail bank businesses. Michael also spent two years at Visa developing Visa Advisory Services – a data-driven consulting practice serving Visa’s largest clients shortly after its IPO. Most recently, Michael was part of the leadership team at Oportun (fka Progreso Financiero), a consumer lending business serving the underbanked Hispanic market. During his 6 years at the company, Michael helped grow the portfolio from $50 million to $1 Billion in outstandings and achieve consistent profitability.
Michael has a degree in Mathematical and Computational Sciences from Stanford University.
Zhi joined BorrowersFirst (BFI) in November of 2015 and advises the CEO on all aspects related to risk and pricing strategies. He brings with him over 17 years of experience that covers risk management and credit operations, and has consistently delivered profitable outcomes for investors. At BFI, he is responsible for credit policy, operational strategy that drives credit and fraud verifications, and the risk and marketing modeling. In addition, Zhi’s team manages strategy implementation and the targeting process for the Direct Mail channel. Prior to BFI, Zhi had a successful career at Lending Club where he spent 6 years building the Risk arm of the business while its originations grew from $50MM to $16B. Today, Lending Club is a leading competitor in the MPL space. Zhi was previously with Capital One, Washington Mutual, and Providian Financial. Zhi holds a Master of Economics from University of California, Davis.
Scott Cornelis is the Head of Capital Markets for BorrowersFirst. Scott is focused on raising debt and equity for the firm, as well as leading the reporting and treasury functions serving investors and financing partners. Before joining BorrowersFirst in June 2015, he spent 15 years at J.P. Morgan in the Global Securitized Products Group. There he was responsible for originating, structuring and executing Asset Backed Securitization (“ABS”) deals for clients in the financial services and specialty finance industries. Scott’s specialty at JPM was leading private ABS deals for clients financing credit card, consumer loan and student loan and businesses. Prior to that, he was Commercial Banking Credit Analyst at Bank One. He holds Series 7 and Series 63 certifications from FINRA.
During his 28 years in the financial services industry, Mike focused on budgeting, accounting policy, customer pricing, managing test and control programs, and worked closely with marketing and risk to optimize new account plans for affinity relationships for 13 years at MBNA. Mike also managed segment and reporting and analytics at AmEx and spent 7 years at Bill Me Later focusing in budgeting, accounting policy, new product development, structuring merchant deals, customer pricing optimization, acquisitions and divestures, and charter partner negotiations.
BorrowersFirst loans are unsecured, personal loans made by Cross River Bank, a New Jersey State chartered bank, Member FDIC. Eligibility for a loan is not guaranteed. To receive a loan, you must be a US citizen or permanent resident and at least 18 years old (or 19 years old in Alabama). At this time, we do not accept loan applications from residents of Colorado, Connecticut, Hawaii, Idaho, Iowa, Mississippi, Nevada, New York, Vermont, West Virginia, or Wisconsin.