Lend Confidently

PayNet harnesses the collective power of commercial lending data so
commercial finance, commercial banking, and alternative lenders can make
better decisions.

Transforming Commercial Lending

Twenty years ago, PayNet was launched to create better tools for the small business credit market. Today, we’re still at it, with commercial lending data and insights you simply can’t get anywhere else.

When access to capital is expanded, companies grow, careers thrive, and communities prosper. To close the small business credit gap, we’re on a mission to make the lending process faster, easier, more accurate, and more profitable.

  • Largest proprietary database of small business loans, leases, and lines of credit in existence

  • Exclusive endorsement from the Equipment Leasing and Financing Association (ELFA)

Meet the PayNet Team

 

We’ve built a collaborative team of visionaries and entrepreneurs who offer considerable expertise in finance, technology, and solutions development.

 

WILLIAM PHELAN photo

WILLIAM PHELAN

President and Co-Founder

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PAUL TENNOLA photo

PAUL TENNOLA

Chief Financial Officer

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THOMAS WARE photo

THOMAS WARE

Senior Vice President, Analytics and Product Development

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CRAIG ODEGAARD photo

CRAIG ODEGAARD

Vice President Technology and Operations

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RISSA REDDAN photo

RISSA REDDAN

Senior Vice President, Marketing

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A Mission to Help Main Street

Small business fuels the economy. Although our direct clients are commercial lenders, PayNet never loses sight of the millions of private local firms at the heart of the credit cycle. We’re committed to reducing the credit gap and building a stronger global economy.

How we’re making an impact

Forward Momentum

We’re not just content to build the largest database of commercial credit data. We thrive on exploring, extracting, and interpreting that data—along with extensive economic research—to spot trends and predict market shifts.

The reason? To help our clients create C&I growth strategies, manage risk, and get ahead. We work with commercial lenders of all sizes and specialties across North America, from local corner banks to global capital providers.

Skokie-Based, Chicago Proud.

PayNet’s headquarters is just outside of Chicago in Skokie, IL, which promoted itself for many years as "The World's Largest Village.” That’s a fitting descriptor for our corporate hometown, since we’re all about building a diverse community of like-minded partners.

Connect with PayNet

Join the PayNet Team

We’re working on the cutting edge of data analytics to move the small business credit market
forward. Pretty exciting, right? We’re always looking for customer-service obsessed individuals to
help make that happen.

WILLIAM PHELAN

President and Co-Founder

William Phelan co-founded PayNet in 2000 with the belief that when commercial lenders are assured of risks, they’re more likely to make credit available, unlocking opportunity for small businesses. As president, Mr. Phelan oversees sales, marketing, analytics and information technology across the U.S. and Canada.

PAUL TENNOLA

Chief Financial Officer

Paul Tennola’s responsibilities include financial management, strategic planning, corporate finance, accounting, and investor relations. For over 28 years, Mr. Tennola has held a variety of financial leadership positions specializing in corporate strategy, finance, operations and M&A/corporate development.

THOMAS WARE

Senior Vice President, Analytics and Product Development

Thomas Ware has 20 years’ experience in banking and equipment finance, including as Senior Vice President, Operations & Chief Credit Officer of American Express Equipment Finance. Mr. Ware became acquainted with PayNet as a potential customer, while serving as Vice President & General Manager of a billion-dollar business unit at CNH (Case) Capital Corporation.

CRAIG ODEGAARD

Vice President Technology and Operations

Craig Odegaard is responsible for the management and oversight of information technology and operations related to development, integrations, operations, infrastructure, quality and corporate security. He is instrumental in helping PayNet introduce new products to new markets, grow in current markets and enhance technology capabilities.

RISSA REDDAN

Senior Vice President, Marketing

Believing that marketing is both an art and science, Rissa Reddan demonstrates a range of talents from the creative to the quantitative to board governance. With a penchant for bold decision-making and the versatility to translate complicated topics into simple ideas, Ms. Reddan connects, creates, and coaches for success.

WILLIAM PHELAN

President and Co-Founder

William Phelan co-founded PayNet in 2000 with the belief that when commercial lenders are assured of risks, they’re more likely to make credit available, unlocking opportunity for small businesses. As president, Mr. Phelan oversees sales, marketing, analytics and information technology across the U.S. and Canada.

PAUL TENNOLA

Chief Financial Officer

Paul Tennola’s responsibilities include financial management, strategic planning, corporate finance, accounting, and investor relations. For over 28 years, Mr. Tennola has held a variety of financial leadership positions specializing in corporate strategy, finance, operations and M&A/corporate development.

THOMAS WARE

Senior Vice President, Analytics and Product Development

Thomas Ware has 20 years’ experience in banking and equipment finance, including as Senior Vice President, Operations & Chief Credit Officer of American Express Equipment Finance. Mr. Ware became acquainted with PayNet as a potential customer, while serving as Vice President & General Manager of a billion-dollar business unit at CNH (Case) Capital Corporation.

CRAIG ODEGAARD

Vice President Technology and Operations

Craig Odegaard is responsible for the management and oversight of information technology and operations related to development, integrations, operations, infrastructure, quality and corporate security. He is instrumental in helping PayNet introduce new products to new markets, grow in current markets and enhance technology capabilities.

RISSA REDDAN

Senior Vice President, Marketing

Believing that marketing is both an art and science, Rissa Reddan demonstrates a range of talents from the creative to the quantitative to board governance. With a penchant for bold decision-making and the versatility to translate complicated topics into simple ideas, Ms. Reddan connects, creates, and coaches for success.