PCLender Announces Equity Financing

September 13, 2006, Honolulu, HI - PCLender.com Inc., a Honolulu-based software company, announced yesterday that it obtained $3 million in equity financing to fund a planned expansion on the mainland.

The company, which has 35 employees in Honolulu, the Philippines and the mainland, produces mortgage banking software for credit unions, community banks and mortgage companies.

Lionel Urban, PCLender's chief executive, said the company is well-positioned to help mortgage lenders operate more efficiently amid a downturn in the real estate industry. "Our software is specifically designed to streamline the mortgage process, from loan origination to secondary marketing," he said.

Sennet Capital LLC provided financial and advisory services for the deal.

Source: Star Bulletin 09/13/06, Honolulu, HI