BNET Industries
Last Fiscal Year Sales:$10.1M
- Public
- US
Dow Jones Description
We are a specialty finance company that facilitates and provides students with funds for higher education. Equipped with proprietary analytical models and decision tools, we are able to profile and provide customized financial products to each student. We receive financing requests from students which we then refer to lenders. We have entered into the student lending market as a lender and originator of private student loans and plan to enter the market for federally guaranteed student loans. We offer three primary financial products to students and financial institutions participating in the specialty finance educational lending sector. These products include private alternative student loans; guarantees for students with certain credit challenges such as the lack of a co-signor or such as a foreign resident seeking credit support to obtain domestic educational financing while attending school in the U.S.; and federally-guaranteed student loans originated by us on behalf of other lenders. We generate revenues from (i) referral or sale of federal loans, (ii) origination fees and guaranty fees, (iii) residual cash flows from the sale or securitizations of portfolios of our alternative student loans and (iv) interest surcharges related to our guarantees of student loans.
CEOEdwin J. McGuinn
Number of Employees 78
Contact Information
590 Madison Ave 13th Fl
New York, New York 10022
(212) 398-1780
Peer Companies
NAICS Code Mortgage and Nonmortgage Loan Brokers: 522310
Recent Events
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Izard Nobel LLP Announces Class Action Lawsuit Against MRU
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Murray, Frank & Sailer LLP Files Class Action Lawsuit Against MRU Holdings, Inc.
News & Analysis
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mru holdings inc. - All News and Analysis
North Franklin Gas Field Deliberations Resume between PGNE and Fidelis.
M2 PRESSWIRE-12 March 2007-SmallCapStockWatch.com: North Franklin Gas Field Deliberations Resume between PGNE and FidelisC1994-2007 M2 COMMUNICATIONS LTD RDATE:12032007 Stocks To Watch: PrimeGen Energy Corporation(OTCBB: PGNE) , MRU Holdings Inc. (Nasdaq: UNCL), Foamex International Inc. (PinkSheets: FMXI), Medifast Inc (NYSE:MED) ,...
Alerts for Wednedsay, August 16, 2006 - Featuring J.L. Halsey , First American Scientific, PacificHealth Laboratories, MRU Holdings and More.
M2 PRESSWIRE-16 August 2006-TalkingStocks.com: Alerts for Wednedsay, August 16, 2006 - Featuring J.L. Halsey , First American Scientific, PacificHealth Laboratories, MRU Holdings and MoreC1994-2006 M2 COMMUNICATIONS LTD RDATE:16082006 Dallas, Texas - Talking Stocks Pre-Market Updates for Wednesday include MRU Holdings,...
Naked short Web site announces CERN, EGHT, MHOI, WEGC, BNTNF have been removed from threshold lists today.
M2 PRESSWIRE-24 May 2005-BUYINS.NET: Naked short Web site announces CERN, EGHT, MHOI, WEGC, BNTNF have been removed from threshold lists todayC1994-2005 M2 COMMUNICATIONS LTD RDATE:24052005 www.buyins.net, announced today that these select companies have been removed from the NASDAQ, AMEX and NYSE...
Additional Resources
Murray, Frank & Sailer LLP Reminds Investors of June 19, 2009 Lead Plaintiff Deadline in Securities Class Action Lawsuit Against Certain Officers and Directors of MRU Holdings, Inc.
NEW YORK -- Murray, Frank & Sailer LLP reminds current and former shareholders of MRU Holdings, Inc. (âMRUâ or the âCompanyâ) (OTC:UNCLQ; formerly NASDAQ:UNCL) who suffered losses from...
The Rosen Law Firm Files Securities Class Action Charging Officers and Directors of MRU Holdings, Inc. With Violations of the Federal Securities Laws Seeking to Recover Damages for Investors
The Rosen Law Firm today announced that it hasfiled a class action lawsuit on behalf of all purchasers of MRU Holdings,Inc. ("MRU" or the "Company") (PINKSHEETS: UNCLQ) formerly (NASDAQ: UNCL)securities during the period between July 9, 2007 and September 18, 2008,inclusive (the "Class Period"). To join the MRU class action,...
Murray, Frank & Sailer LLP Reminds Investors of June 19, 2009 Lead Plaintiff Deadline in Securities Class Action Lawsuit Against Certain Officers and Directors of MRU Holdings, Inc.
NEW YORK -- Murray, Frank & Sailer LLP reminds current and former shareholders of MRU Holdings, Inc. (âMRUâ or the âCompanyâ) (OTC:UNCLQ; formerly NASDAQ:UNCL) who suffered losses from...
Izard Nobel LLP Announces Class Action Lawsuit Against MRU Holdings, Inc.
The law firm of Izard Nobel LLP, whichhas significant experience representing investors in prosecuting claims ofsecurities fraud, announces that a lawsuit seeking class action status hasbeen filed in the United States District Court for the Southern Districtof New York on behalf of those who purchased the securities of MRUHoldings,...
Brower Piven Encourages Investors Who Have Losses in Excess of $50,000 From Investment in MRU Holdings, Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the June 19, 2009 Lead Plaintiff Deadline
Brower Piven, A Professional Corporationannounces that a class action lawsuit has been commenced in the UnitedStates District Court for the Southern District of New York on behalf ofinvestors who purchased shares of MRU Holdings, Inc. ("MRU" or the"Company") (PINKSHEETS: UNCLQ) during the period between July 9, 2007 andSeptember 19, 2008,...
Murray, Frank & Sailer LLP Files Class Action Lawsuit Against MRU Holdings, Inc.
NEW YORK -- Murray, Frank & Sailer LLP has filed a class action lawsuit in the United States District Court for the Southern District of New York on ...
BenchmarkJournal.com (Complimentary) Analyst Review for UNCL, DPTR, CPST and VRTX
Benchmark Journal brings independent company andsector research together, utilizing top financial advisors and investmenttactics to provide you with a clear picture of investment opportunities.Once you register as a free member to www.benchmarkjournal.com , you will begranted full access to our site, including sector analysis and companyanalysis. Our company profiles...
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Decision Makers
| Name (plus bio) | Position |
|---|---|
| Edwin J. McGuinn | CEO |
| Raza Khan | Co-President |
| John P. Derham | CMO |
| Jonathan Coblentz | CFO, Treasurer & Head, Capital Markets |
| Denise Gillen | Vice President, IR |
| Jason Hare | Vice President, Capital Markets |
| Karin Pellmann | Vice President, Public Relations |
| Phillip J. Sbrochi | Senior Advisor |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| D. Andrew Mathieson | Board of Directors |
| Michael Brown | Board of Directors |
| Vishal Garg | Board of Directors |
| Organization | Position | Status |
|---|---|---|
| Myrichuncle | Chairman & CEO | Current |
| Elottery, Inc | Chief Executive Officer | Current |
| Mru Holdings, Inc. | CEO | Current |
| Enigma Software Group, Inc. | Independent Director | Current |
| Mru Holdings, Inc. | Chairman | Current |
| Enigma Software | Board of Directors | Current |
| Colgate University | Bachelor's Degree In Mathematics | Former |
Raza Khan is one of the Company's co-founders. He is the Company's co-president and assistant secretary and has served on the Board of Directors since July 2004. Prior to MRU Holdings, Inc., Raza co-founded Silk Road Interactive, a consulting company advising clients on business and financial strategy, brand development and marketing, and technology. Raza worked with clients such as Sony Music, the White House Historical Association, Computers4Sure, Blades Board Skate, and RMH, a subsidiary of Advanta, among others. Raza has collaborated on the development of various innovations in the financial services sector including the development of human capital based investment instruments for which he has been cited in numerous articles and news segments including the Financial Times and CNN. He has lectured at the CATO Institute and the Harvard Business Club regarding investing in human capital. The Company and its founders have been recognized by Fast Company's Fast 50 (2006) and listed among BusinessWeek.com's Tech's Best Young Entrepreneurs (2006). Raza attended New York University.
| Organization | Position | Status |
|---|---|---|
| Mru Holdings, Inc. | Co-President | Current |
| Mru Holdings, Inc. | Board of Directors | Current |
John Derham is the Company's chief marketing officer, reporting to Raza Khan, co-founder and president. John joined MRU in October 2007. John is responsible for the development and execution of all marketing activities in the organization, including brand marketing for MyRichUncle. He joins MRU Holdings as a seasoned expert with nearly 20 years of marketing and business development experience in credit cards and mortgage loans both domestically and abroad. His diverse marketing background coupled with a highly analytical approach to solving problems has enabled him to drive growth in many ways. Prior to joining MRU, John served as SVP and chief marketing officer of Advanta Bank Corp., among other roles, such as SVP of strategic business development and SVP of decision support, over a span of 15 years. John was SVP of marketing at JPMorgan Chase in their direct-to-consumer mortgage unit and director of business analysis and business development for a division of the Royal Bank of Scotland. He is a graduate of the Villanova School of Business at Villanova University.
| Organization | Position | Status |
|---|---|---|
| Mru Holdings, Inc. | CMO | Current |
Jonathan Coblentz is the Company's chief financial officer and treasurer. Jonathan joined MRU in April 2007. In 1992, Jonathan began his structured finance career in the Asset Backed Finance Group of The First Boston Corporation (now Credit Suisse). During the nearly five years he spent there he structured and executed securitizations for customers over a broad range of asset classes. As part of this process, he helped various student lenders develop their student loan securitization programs. After leaving First Boston in 1997, Jonathan joined Goldman Sachs & Co., where he worked initially as an asset backed banker and later joined the firm's Principal Finance group. Prior to leaving Goldman in 2004, Jonathan led the student loan finance team, which successfully re-established the firm's presence in the student loan ABS market. In the last two years prior to joining MRU, Jonathan worked in the structured finance group at Fortress Investment Group, sourcing and analyzing investment opportunities in consumer and commercial finance and the insurance industry. Jonathan graduated summa cum laude from Yale University, receiving a B.S. in Applied Mathematics with a concentration in Economics.
| Organization | Position | Status |
|---|---|---|
| Mru Holdings, Inc. | CFO, Treasurer & Head, Capital Markets | Current |
| Mru Holdings, Inc. | Treasurer & Head, Capital Markets | Former |
| Organization | Position | Status |
|---|---|---|
| Mru Holdings, Inc. | Vice President, IR | Current |
| Organization | Position | Status |
|---|---|---|
| Mru Holdings, Inc. | Vice President, Capital Markets | Current |
| Fordham University | Mba | Former |
| Boston College | Bachelor's Degree In Finance | Former |
| Organization | Position | Status |
|---|---|---|
| Mru Holdings, Inc. | Vice President, Public Relations | Current |
Phillip J. Sbrochi, Senior Advisor Mr. Sbrochi is a 29 year veteran of Bank One where he was Head of National Retail Lending, which included the Student Loan Business for Bank One Ohio Corp. Bank One Corp. was the second largest Federal student Loan player after Sallie Mae and one of the leading private student loan originators. Mr. Sbrochi is presently working as a consultant for a Midwestern regional bank, guiding the development of a liquidation model for delinquent and charged-off loans. Prior to consulting, Mr. Sbrochi founded Break-Thru Financial Company, LLC, and raised $1.7 million in capital from individual investors. The company was formed to purchase non-performing and non-conforming consumer loans. Mr. Sbrochi worked his way up the corporation at Bank One starting in Branch Management; he was promoted as the youngest Branch Manager in history of the corporation at that time. He went on to become a Manager in Installment Loans and Vice President of the Retail Loan Division, managing the origination and servicing of all retail loan products, such as Student Loans. Mr. Sbrochi became Executive Vice President and Manager of the National Retail Lending Division and was responsible for consumer lending products that were originated through third parties. He moved to Banc One Capital Corporation as Managing Director of the Specialty Finance Mezzanine Fund, which was mainly focused on companies involved in the Specialty Finance sector. Mr. Sbrochi holds an MBA from Capital University in Columbus Ohio and a BS in Business Administration from The Ohio State University.
| Organization | Position | Status |
|---|---|---|
| Mru Holdings, Inc. | Senior Advisor | Current |
| Bank One Corp | Current | |
| National Retail Corporation | Vice President and Manager | Former |
| The Ohio State University | Bs In Business Administration | Former |
| Organization | Position | Status |
|---|---|---|
| Mru Holdings, Inc. | Board of Directors | Current |
| Mru Holdings, Inc. | Director & Chairman of Nominating Committee | Former |
| Organization | Position | Status |
|---|---|---|
| Battery Ventures | Partner | Current |
| Panjiva | Board of Directors | Current |
| Tradeking | Board of Directors | Current |
| Mru Holdings, Inc. | Board of Directors | Current |
| Outlooksoft Corporation | board member | Current |
| ChemConnect, Inc. | Investor | Current |
| High Technology Group, LLC | Board of Directors | Former |
| Georgetown University | BS in Finance and International Business | Former |
| Georgetown University | graduated magna cum laude | Former |
| The Goldman Sachs Group, Inc. | member | Former |
Vishal Garg is one of the Company's co-founders. He is the Company's co-president and secretary and has served on the Board of Directors since July 2004. Prior to MRU Holdings Inc., Vishal was a founder and managing partner at 1/0 Capital LLC and Schwendiman Technology Partners LLC, hedge funds focused on investments in emerging markets. At Schwendiman, Vishal managed a group of funds focused on emerging markets for large clients such as Bank Julius Baer, Credit Suisse Group, Republic National Bank/HSBC, Pictet & Cie., among others. In addition, he was the portfolio manager for a $15 million frontier markets managed account for Goldman, Sachs Commodities Corp. Prior to 1/0 and Schwendiman, Vishal was with Morgan Stanley in the Latin America Investment Banking and M&A groups with a focus on telecom, technology and media companies. Prior to Morgan Stanley, he was with VZB Partners, as the Asia Pacific portfolio manager for the Strategos Fund, managing an investment portfolio of $50 million, and co-managing a $10 million managed account for Rockefeller & Co. The Company and its founders have been recognized by Fast Company's Fast 50 (2006) and listed among BusinessWeek.com's Tech's Best Young Entrepreneurs (2006). Vishal graduated Beta Gamma Sigma with highest honors from the Stern School of Business at New York University.
| Organization | Position | Status |
|---|---|---|
| Mru Holdings, Inc. | Board of Directors | Current |
| Mru Holdings, Inc. | Co-President & Secretary | Former |
| Mru Holdings, Inc. | Co-Founder, CFO & Secretary | Former |
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