News Feed Item

East Atlantic Investment Corporation Backs New Startup, Pango Financial LLC, to Support Small Business

Just launched with funding from the private equity firm, Pango Financial aims to provide entrepreneurs and small to medium-sized businesses with viable funding alternatives.

WILMINGTON, Del., April 16, 2014 /PRNewswire/ -- East Atlantic Investment Corporation (EAIC) today announced the launch of a new startup it has helped to fund. Named Pango Financial LLC (Pango), the company will focus on enabling clients to fund the acquisition or recapitalization of new or existing businesses. East Atlantic Investment Corporation's investment portfolio has included student lending, financial services, and the life sciences industries.

Former bank executives William Keenan, Kevin Foley, and Kim Paternoster have joined forces in to orchestrate a successful launch for Pango. Foley and Paternoster serve as Directors of EAIC, each coming from careers with financial institutions including JP Morgan, NatWest, Mellon Bank and First USA. Keenan is the newly appointed Chairman and CEO of Pango, and was previously Chairman and CEO of Ceigis LLC – a student loan consolidation company. In addition, he formerly held executive leadership positions at NatWest Bank, Allied Irish Bank, Mellon Bank, and Beneficial Finance.

Through its core product, the DreamSpark plan, Pango provides an alternative funding solution to the small and medium size enterprise (SME) market. The plan allows people to utilize retirement funds to invest in the acquisition of a new business or fund an existing business. The product permits qualified investments, which are not subject to penalties or taxes, for early withdrawal. Within its industry, Pango Financial is the only provider with an end-to-end online solution that includes free incorporation, free first year registered agent, and free business valuation.

"Pango provides options for those that need capital infusion for acquisitions or recapitalizations," said Paternoster, who oversees the financial services category for the firm.

"We believe Pango Financial complements bank services and opens up options for individuals to put more equity into transactions and thus enables lenders to lend more," added Foley.

Pango Financial will originate new customers through direct marketing, social media, and partnership referral programs. The partnership referral program includes white labeling the website for select partners. The company is currently also looking for lending partners to complement its service to the SME market.

"We look forward to working with banks to market our product, enabling their clients to put more equity into transactions and reduce underwriting risk," said Keenan.

About Pango Financial LLC

Pango FinancialTM is the leader in providing online and on-the-go launch and growth solutions to entrepreneurs and small businesses at the lowest cost without compromising value. The company's mission is to make its clients business dreams a reality – for less. Its team of experts boasts over 75 years of combined experience in the financial, banking, and marketing industries.

Pango's signature DreamSparkTM plan unlocks retirement savings to drive investment for the future, completely tax deferred and penalty-free. As the price leader, Pango invites prospective clients to comparison shop to confirm that Pango Financial provides the highest value at the lowest cost.


SOURCE Pango Financial LLC

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The IoT industry is now at a crossroads, between the fast-paced innovation of technologies and the pending mass adoption by global enterprises. The complexity of combining rapidly evolving technologies and the need to establish practices for market acceleration pose a strong challenge to global enterprises as well as IoT vendors. In his session at @ThingsExpo, Clark Smith, senior product manager for Numerex, will discuss how Numerex, as an experienced, established IoT provider, has embraced a ...
A completely new computing platform is on the horizon. They’re called Microservers by some, ARM Servers by others, and sometimes even ARM-based Servers. No matter what you call them, Microservers will have a huge impact on the data center and on server computing in general. Although few people are familiar with Microservers today, their impact will be felt very soon. This is a new category of computing platform that is available today and is predicted to have triple-digit growth rates for some ...
DevOps theory promotes a culture of continuous improvement built on collaboration, empowerment, systems thinking, and feedback loops. But how do you collaborate effectively across the traditional silos? How can you make decisions without system-wide visibility? How can you see the whole system when it is spread across teams and locations? How do you close feedback loops across teams and activities delivering complex multi-tier, cloud, container, serverless, and/or API-based services?
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Sheng Liang to Keynote at SYS-CON's 19th Cloud Expo, which will take place on November 1-3, 2016 at the Santa Clara Convention Center in Santa Clara, California.
Effectively SMBs and government programs must address compounded regulatory compliance requirements. The most recent are Controlled Unclassified Information and the EU’s GDPR have Board Level implications. Managing sensitive data protection will likely result in acquisition criteria, demonstration requests and new requirements. Developers, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by incorporating changes.
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Penta Security is a leading vendor for data security solutions, including its encryption solution, D’Amo. By using FPE technology, D’Amo allows for the implementation of encryption technology to sensitive data fields without modification to schema in the database environment. With businesses having their data become increasingly more complicated in their mission-critical applications (such as ERP, CRM, HRM), continued ...
The IoT has the potential to create a renaissance of manufacturing in the US and elsewhere. In his session at 18th Cloud Expo, Florent Solt, CTO and chief architect of Netvibes, discussed how the expected exponential increase in the amount of data that will be processed, transported, stored, and accessed means there will be a huge demand for smart technologies to deliver it. Florent Solt is the CTO and chief architect of Netvibes. Prior to joining Netvibes in 2007, he co-founded Rift Technologi...
SYS-CON Events announced today that Streamlyzer will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Streamlyzer is a powerful analytics for video streaming service that enables video streaming providers to monitor and analyze QoE (Quality-of-Experience) from end-user devices in real time.
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Most of us already know that adopting new cloud applications can boost a business’s productivity by enabling organizations to be more agile and ready to change course in our fast-moving and connected digital world. But the rapid adoption of cloud apps and services also brings with it profound security threats, including visibility and control challenges that aren’t present in traditional on-premises environments. At the same time, the cloud – because of its interconnected, flexible and adaptable...