PayNet, Inc., the nation’s small business credit experts, has hired Paul Tennola as Chief Financial Officer. He joins PayNet with over 28 years of financial leadership positions specializing in corporate strategy, finance, operations and M&A/corporate development. He has successfully led the closing of 50+ transactions in the financial services, tax/accounting, consumer/finance and data/analytic sectors.

“Paul’s skills in finance, corporate development and management provide diverse capabilities for our Company,” said William Phelan, president of PayNet. “These capabilities will enable us to even better serve customers to lower the cost of credit administration, acquire more commercial and industrial assets and mitigate credit risks; in addition to help us manage and position ourselves with our continued growth.”

Prior to joining PayNet, Mr. Tennola served as Global Head of M&A for TransUnion during their IPO process. He served as Executive Vice President, Corporate Development, Tax & Accounting Division of Wolters Kluwer, leading and managing their first acquisition in Brazil. He became Group Vice President of Business Development for SunGard Data Systems, Inc. from the divestiture of DerivaTech Risk Solutions, Inc. He also held financial management positions with Incent, GE Financial, Deloitte & Touche and Merrill Lynch.

Paul graduated from Indiana University with a bachelor’s degree in finance. He completed the Chicago Management Institute’s Executive Program from The University of Chicago, Booth School of Business, and the Six Sigma Master Black Belt program at GE. He is an active member on the Advisory Board for the Global Higher Education Organization.

PayNet Inc. is the leading provider of credit ratings on small businesses enabling lenders to manage credit risk, grow earning assets and operate credit at lower cost. PayNet maintains the largest proprietary database of small business loans, leases and lines of credit encompassing over 23 million contracts worth over $1.4 Trillion. Using state-of-the-art analytics, PayNet converts raw data into real-time marketing intelligence and predictive information that subscribing lenders use to make informed small business financial decisions and improve their business strategy. For more information visit www.paynet.com.