As President, Mr. Phelan has grown PayNet into a firm with the largest collection of payment histories for commercial loans and leases. Under his strategic direction, Mr. Phelan oversees the sales, marketing, analytics and information technology functions of the business. Prior to co-founding PayNet, Mr. Phelan managed an investment portfolio of fixed income securities for Trustmark Insurance Company in Lake Forest, IL. From 1993 to 1995 Mr. Phelan worked at Dain Rauscher Securities helping pension funds, banks and asset managers meet their clients’ investment needs. As a consultant at Ernst & Young from 1988 to 1993, Mr. Phelan advised privately-held companies on acquisitions and valuations to help them expand their business and conduct estate planning. Prior to that time, Mr. Phelan worked for IBM Corp. and started his career in 1982 as an operations director in the retail industry. He completed a Masters in Business Administration in 1987 from Loyola University Graduate School of Business where he was a member of the Dean’s List and received the MBA designation with a concentration in Finance. He has a Bachelor of Arts degree from Carleton College in Northfield, MN. Mr. Phelan regularly speaks throughout the nation on the latest trends on the small business economy.