Loan Science, LLC
Steve Allocca has a diverse and extensive work experience. Steve is currently the Managing Director, US & President at Funding Circle US since January 2023. Prior to that, they served on the Board of Directors at Payliance starting from February 2020 and on the Board of Directors at Growers Edge from December 2020.
From 2013, Steve shifted to a board position at Loan Science, LLC after co-founding and scaling the company. Steve was responsible for recruiting the initial team, negotiating pre-payment from customers, and managing the capitalization process.
Steve served as the Chief Operating Officer at BlueVine from February 2021 to August 2022, where they transformed the organization structure and drove significant revenue and customer growth.
Prior to that, they were the President at LendingClub from May 2017 to May 2020, where they tripled EBITDA and increased revenue through automation and reduction of turnaround time.
From 2013 to 2017, Steve held the role of VP & General Manager, Global Credit at PayPal, where they quadrupled profit and led the expansion of the consumer credit business.
Before their tenure at PayPal, they founded Loan Science in 2008, which consistently grew to 8-figure annual revenue. Steve also served as the President & Chief Operating Officer at Education Finance Partners, restructuring the business during the 2008 financial crisis.
Steve began their career at Wells Fargo & Co in 1999, holding various senior leadership roles including SVP, Head of Personal Credit and SVP, Director of Customer Acquisition & Integrated Marketing. Steve also led retail bank marketing for the largest group of Wells Fargo Regions as SVP, Regional Banking.
Steve Allocca attended Washington and Lee University from 1990 to 1994, where they earned a Bachelor of Arts degree in Economics. Following this, from 1994 to 1997, they pursued further education at Northwestern University - Kellogg School of Management, where they obtained a Master of Management/Master of Business Administration (MM/MBA) degree with a concentration in Finance & Marketing.
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Loan Science, LLC
*The science of lending is our passion.* We develop solutions and advanced analytics that help our clients better manage loan portfolios to optimize revenue and profitability. Our unique approach dramatically improves the design, delivery and performance of loan portfolio management programs. Our core capabilities are: advanced data management with data security that sets the standard for industry-best practices; predictive analytics that accurately assess the default risk of each borrower in a loan portfolio and learn over time by incorporating borrower behavior; and collections and default prevention programs that optimize portfolio performance. We specialize in technology solutions and services for: colleges and universities to reduce their cohort default rates (CDR), maintain their Title IV funding eligibility, and improve revenue and enrollment rates; lenders to improve their financial performance on student loan and consumer loan portfolios; and investors with private student loan and other consumer loan portfolio investments to make better-informed decisions on which loan portfolios to purchase, at what price, and how to best manage them to optimize their return.