MINNEAPOLIS, MN / September 7, 2023 / Lendway, Inc. (Nasdaq:LDWY) (“Lendway”) provided today an Investor Q&A as part of its ongoing efforts for high-quality and timely shareholder communications.
- What is Lendway, Inc., and what are you trying to do?
A: We’re building a scalable non-bank lending business to purchase existing loans or originate and fund new loans, all of which will be secured by collateral. Our approach will be bringing creative financing solutions to the marketplace, where we’re focused on responsible lending, that is, doing lending the right way.
- When was Lendway established?
A: Lendway was formed on August 4, 2023. We changed our name from “Insignia Systems, Inc.” and reincorporated from Minnesota to Delaware. As part of the name change, our common stock now trades under the symbol “LDWY” on Nasdaq.
- Who’s the CEO of Lendway?
Randy Uglem is President & CEO of Lendway, Inc. (Nasdaq: LDWY), who was appointed to the role, effective August 4th, 2023. He has over 20 years of experience in credit and lending. Previously, he served as Senior Vice President of Lending for Insignia Systems, Inc. (Nasdaq: ISIG) since March 2023. Prior to Insignia, he was Ag Credit and Lending Director at Air T, Inc. (Nasdaq: AIRT) from February 2019 to March 2023. Mr. Uglem spent nearly 13 years at CHS Inc., serving most recently as Credit Director from 2014 to January 2019. Early in his career, he held positions at AgCountry Farm Credit Services and Affinity Plus Credit Union, as well as being involved in his family’s farming operation in North Dakota. Mr. Uglem holds a Bachelor of Science in Agricultural Economics from North Dakota State University.
- How did you come up with the name Lendway?
A: We wanted an easy, memorable name that personified responsible lending, whereas as a financial entity we would be focused and committed to lending the right way. Thus, lend way.
- Your tagline is: Lending the Right Way. What does it mean to lend money the right way?
A: At the core of every industry lies the critical function of lending. Yet, as industries undergo cycles of change, the supply of capital fluctuates. Our noble goal is to proactively offer financing solutions that foster long-term stability for our valued customers.
- What’s your main loan product?
A: We intend to initially focus on loans secured by real estate, primarily for agricultural purposes through our wholly owned subsidiary, Farmland Credit, Inc. (www.farmlandcredit.com)
- What’s the vision for the business?
A: Our mission is creating exceptional financing solutions and connecting our customers with competitive funding choices. To support this mission, Lendway will look to expand its network of origination partners, to support our targeted growth in the agricultural lending space in Minnesota and nearby states. Financial institutions who are looking for a loan participation partner and other non-lending companies who have existing customer connections will be our initial targeted partners.
About Lendway, Inc.
Lendway, Inc. is focused on building a scalable non-bank lending platform to purchase existing loans and/or originate and fund new loans.
For additional information, contact (800) 874-4648, or visit our website at www.lendway.com
Investor inquiries can be submitted to info@lendway.com.
Cautionary Statement for the Purpose of Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995
Statements in this post that are not statements of historical or current facts are considered forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. The words “anticipate,” “continue,” “expect,” “plan,” “remain,” “will” and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these or any forward-looking statements, which speak only as of the date of this press release. Statements made in this press release regarding, for instance, the timing of potential repurchases, if any, of shares of common stock are forward-looking statements. These forward-looking statements are based on current information, which we have assessed and which by its nature is dynamic and subject to rapid and even abrupt changes. As such, actual results may differ materially from the results or performance expressed or implied by such forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, including those set forth in our Annual Report on Form 10-K for the year ended December 31, 2022 and additional risks, if any, identified in our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K filed with the SEC. Such forward-looking statements should be read in conjunction with Lendway’s filings with the SEC. Insignia assumes no responsibility to update the forward-looking statements contained in this press release or the reasons why actual results would differ from those anticipated in any such forward-looking statement, other than as required by law.
Contact:
Lendway, Inc.
Randy Uglem, CEO
(763) 392-6200
SOURCE: Lendway, Inc.