Money360, a marketplace lender that focuses on commercial real estate, has hired mortgage industry veteran Gary Bechtel as its president.
Bechtel will be responsible for expanding Money360’s lending programs, among other duties, the Ladera Ranch, Calif.-based firm said in a Monday press release.
Bechtel worked most recently as chief lending/originations officer at CU Business Partners, the release stated. His previous employers include Johnson Capital Group, Hometown Commercial Capital and Meridian Capital Group.
Dan Vetter, a co-founder of Money360 who had been serving as the company’s president, will become chief operating officer. Evan Gentry will continue in his role as chief executive.
Money360, which was founded in 2010, is one of several companies that are linking real-estate borrowers and investors through an online portal. The firm lends to purchasers of commercial real estate, as well as buyers of non-owner-occupied residential real estate.
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