Magilla Loans, a search engine for loans which connects borrowers to banks without requesting personal information, announced the addition of Joseph Baratta (“Joe”), Global Head of Private Equity at Blackstone, to its Board of Directors. Joe will serve alongside Dr. Rao Unnava, co- founder of Angie’s list and Dean of UC Davis Graduate School of Management.
Over his twenty-year career at Blackstone, Joe spearheaded some of the firm’s most successful investments and helped establish the firm’s private equity business in Europe. Before joining Blackstone, Joe worked for investment firms Tinicum Incorporated and McCown De Leeuw & Company. He also worked in the mergers and acquisitions department at Morgan Stanley.
“Magilla is transforming the speed and efficiency with which local businesses across America access needed capital. The company also makes the process of accessing customers much more simple and cost-effective for the nation’s leaders. I am excited to be a part of this important and rapidly growing company.”
Using patent-pending technology, Magilla's platform connects a borrower anonymously to multiple lenders following responses to a set of questions. Once the loan application is submitted, borrowers can receive multiple loan proposals from numerous lenders – usually within 24 hours. If the borrower accepts a loan proposal, an introduction is made to the lender, which allows the borrower to remain in full control throughout the process.
“The addition of one of the industry’s top financial leaders helps bring Magilla’s mission to light; making smart capital available to any borrower in the United States,” said Dean Sioukas, CEO of Magilla Loans. “With proven expertise in navigating the financial markets, we are confident Joe will help us break through the antiquated banking system and bring innovation to the everyday borrower.”
Most recently, Joe was profiled in Institutional Investor, a leading international finance publication. In 2012, he was listed in Forbes’ “Top 50 Dealmakers” list and has served on many of Blackstone’s investment committees. Joe graduated magna cum laude from Georgetown University, where he serves as a member of the university’s Board of Trustees. He is also a trustee of the Tate Foundation in the United Kingdom and serves on the board of Year Up, an organization focused on youth employment.
Magilla Loans is a search engine for loans which connects borrowers to banks without requesting personal information. The platform enables borrowers to search and compare loans without providing a name, social security, or phone number. The loan proposals are presented on its patented MagChart™, allowing borrowers to easily compare the loan terms and choose a lender. Magilla has already allocated billions of dollars in loans through its website since launching in January 2016.