Change of CEO for online lender Patch of Land

Alternative loans

Jason Fritton returns to his former role as CEO, as Paul Deitch steps down.

A familiar face has taken over Patch of Land. Patch of Land Co-Founder and Chairman Jason Fritton returns as CEO. Paul Deitch resigns for personal reasons, some eighteen months after taking office in April 2016.

Patch of Land is one of America’s leading online real estate lenders. The platform enables an audience of qualified individual and institutional investors to access a range of private real estate investment opportunities, all secured by a first charge on the property.

Over the past 12 months, under Deitch’s leadership, the company says it has improved its market position, primarily by strengthening its management team, expanding its $30 million credit facility and more than doubling its volumes. of loans. It also introduced a self-investment tool for individual investors and a new bridging loan program for single-family rental properties.

“We wish Paul all the best and express our deepest gratitude for his many contributions to the success of the company. He will be missed and continues to be a close friend of the company,” Fritton said. “While Paul has been instrumental in our recent growth, we are confident that the management team, along with the Board of Directors, will continue to evolve the business and successfully advance our growth initiatives and funding.”

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