Direct lender and specialty finance company Access Point Financial has named Dilip Petigara CEO and Michael Lipson chairman of its board of directors. The company described the appointments “as part of aggressive new corporate growth initiatives put in place to meet the growing demand for financial services in the global hotel sector.”
“In order to meet the changing demands of the hotel franchise market, APF will be significantly expanding our portfolio of financial programs, implementing a series of new and exciting programs that have the ability to be customized to meet the needs of each hotel organization,” Petigara said in a statement.
Petigara has worked as chief operating officer for Access Point Financial since he joined the company in 2012. He brings more than 23 years of experience in hospitality and finance to his new role as CEO. He previously served as SVP for Specialty Finance Group, where he managed loan operations, internal credit approvals, closing/funding and asset management. Before that, he worked as an assistant VP and senior underwriter for GMAC Commercial Mortgage.
“With a highly successful 23-year tenure in hospitality, real estate and financial services, Dilip has exhibited proven financial expertise and leadership abilities that have greatly benefitted the Access Point Financial organization and our clients over the past seven years that he has served as chief operating officer,” Michael Gontar, chief investment officer for Wafra Capital Partners, Access Point Financial’s capital partner, said in a statement.
Access Point Financial’s new chairman has worked with the company since 2017 as a strategic consultant. Lipson has previously served as SVP of multifamily asset management and operations at mortgage loan company Freddie Mac, president/CEO of Berkadia Commercial Mortgage and EVP of Capmark Finance (GMAC Commercial Mortgage).
“Michael has been a thought leader in this space for many years now, and his new role heralds an exciting time not only for APF, but for the hospitality finance industry as a whole,” Gontar said. “We are poised for exponential growth, and these new leadership appointments are laying the foundation for even greater success, as we expand our portfolio of services to meet the growing industry demand for specialized financial services.”