CreditMax Focuses On Expanding Debt Purchasing Lending Business

CreditMax Holdings, LLC has made a strategic decision to focus its entire operations on growing its finance business, CMAX Finance, to provide capital to debt purchasers. Based on market conditions, CreditMax made the decision to exit the brokerage business which has been conducted through its trading platform, NDSE.

CreditMax began its finance business in 2010 and has secured capital to provide over $100mm of loan originations over the next year.

According to Founder and Principal Michael Bernstein, “We see great opportunity in expanding the finance business as we’ve recently formed a strategic alliance with a credit fund that will provide higher loan-to-value financing and allow CMAX to finance other consumer asset classes. As a market leader, we need to offer multiple finance products to assist our clients’ growth. We’ve historically focused our efforts on small-to-mid size debt buyers, but now we’re in a position to target larger debt purchasers as well through our strategic alliance.”

Lili Shields, V.P. of Finance, added, “The demand for financing continues to remain very strong, especially for small and mid-sized debt buyers. Our expansion plans include adding two loan officers and a possible northeast presence later this year. We value the relationships we’ve built over the past two years and recognize that in a growth mode, we still need to continue servicing our clients’ needs by providing quick turnaround and execution.”

Bernstein added, “In a growth strategy, it’s critical to have a solid foundation which we’ve been fortunate to have with our outstanding team of experienced loan underwriters, processors and closers, led by Carolyn Sesco. This team has worked together in the industry for over 12 years.”