Redwood City startup Daric filed plan to push peer-to-peer loans
A new peer-to-peer lender that includes former Wells Fargo CEO Richard Kovacevich[5] as an investor filed plans with the Securities and Exchange Commission this week.
Daric Corp. said it intends to create notes worth up to $10 million to help facilitate loans between investors and borrowers that will carry an interest rate of between 6 percent and 25 percent.
The three-person Redwood City company led by CEO Greg Ryan[6] said it will take some of the interest that accrues on the notes, which mature in three years.
Daric said it was incorporated in Delaware in April 2011. It plans to launch operations in California, New York, Texas, Illinois, and Florida.
In addition to Kovacevich, other investors listed on Daric's prospectus include Franklin Resources Chief Operating Officer Jennifer Johnson[7], Lazard Asset Management portfolio manager Jay Leupp[8] and Goldcrest Investments CEO Adam Ross[9].
Click here to read the prospectus that Daric filed with the SEC[10].
Cromwell Schubarth is the Senior Technology Reporter at the Business Journal. His phone number is 408.299.1823.
References
- ^ Cromwell Schubarth (feeds.bizjournals.com)
- ^ This email address is being protected from spambots. You need JavaScript enabled to view it. (feeds.bizjournals.com)
- ^ Twitter (twitter.com)
- ^ Google+ (plus.google.com)
- ^ Richard Kovacevich (feeds.bizjournals.com)
- ^ Greg Ryan (feeds.bizjournals.com)
- ^ Jennifer Johnson (feeds.bizjournals.com)
- ^ Jay Leupp (feeds.bizjournals.com)
- ^ Adam Ross (feeds.bizjournals.com)
- ^ read the prospectus that Daric filed with the SEC (www.sec.gov)