Fundation Group, an online small-business lender, has hired an industry veteran as its first chief operating officer.

Barry Feierstein will be charged with overseeing the New York-based company's marketing, business development, lending operations, and servicing and administration, according to a Monday news release.

Prior to joining Fundation, Feierstein served as chief commercial officer for Apollo Education Group, which operates the for-profit University of Phoenix.

Between 2007 and 2009, Feierstein worked as Sallie Mae's executive vice president of sales and marketing, according to his LinkedIn profile.

Fundation offers term loans of $20,000 to $500,000 to small businesses. In October, the firm announced a partnership with Regions Financial to sell co-branded loans through

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