Finance N Illinois

Merchants Capital expands to Chicago, hires nine new employees

Merchants Capital, a multifamily, affordable and healthcare lender headquartered in Carmel, Indiana, has opened a production office in Chicago, located at 131 S. Dearborn Street in The Loop—the company’s fourth office nationwide. Lee Oller has been hired as executive vice president to lead the Chicago team.

Oller brings 26 years of experience as a chief and LEAN underwriter and has produced more than 350 closed transactions involving the Federal Housing Administration (FHA) and Department of Housing and Urban Development (HUD) loan platforms. She brings a deep understanding of FHA, multifamily and affordable housing that will allow Merchants Capital to grow its local presence in Chicago and regionally across the Midwest.

“Merchants Capital is well known in the industry for its passion for multifamily and affordable housing,” Oller said. “The biggest draw to joining Merchants was the ability to diversify our lending products, especially Fannie Mae and Freddie Mac. The additional tools at our disposal, along with Merchants commitment to growth and innovation with the support from its banking operation, Merchants Bank, made the decision easy because of the direct benefit to clients.”

Joining Oller in the new Chicago office are three senior vice presidents: Susan Schnoll, Alan Cravitz and Brian Black. Schnoll is recognized in the Wisconsin market for her HUD lending knowledge. Cravitz and Black bring a combined 70 years of multifamily lending experience to the team.

“This veteran team complements each other and has worked together for many years,” said Oller of the employees joining her in the new Chicago office.

“Our expansion to Chicago with this talented group is a very meaningful step in increasing our national lending footprint,” said Michael Dury, president of Merchants Capital. “Lee’s ability to lead is remarkable. We are very excited to introduce her team to our diverse lending products that will allow them to offer a wide variety of solutions.”