What Performance Equity Partners does

Performance Equity Partners, Inc. (d/b/a PEP Lending) is a privately held Illinois corporation founded in 2007 by former bank officers who acquired the manufactured housing loan portfolios when the originating National Bank was sold. The company operates as a specialized direct lender in two product areas: manufactured home community financing (chattel loans for homes located within communities, plus loan servicing, collections, hazard insurance follow-up, and portfolio acquisition support) and commercial lending (mobile home park acquisition/refinance/cash-out loans, commercial real estate mortgages, commercial term loans, and casino and tribal gaming financing) originated through a participation loan platform that sells pieces of credits to a network of banks and credit unions across the United States.

The company's underlying technology is a loan servicing platform with automated payment processing (auto debit, EPay phone payments), automated statement and collection letter generation, a collector queue for past-due accounts, and an online credit application portal (peplendingapplication.com). It operates under NMLS Lic. #296804 and Illinois Residential Mortgage Licensee MB.6760914, and is licensed in 21+ states. The firm is headquartered in Tinley Park, Illinois with an additional office in Chicago, employs approximately 20 staff, and has processed over $160 million in contracts since inception with management averaging 20+ years of industry experience.

PEP generates revenue primarily through interest income on originated manufactured home and commercial loans (held in portfolio or partially sold via participations to partner banks and credit unions) and recurring loan servicing fees for payment processing, escrow administration, collections, and loan file documentation performed on behalf of community owners and other lenders. Pricing is quote-based on borrower credit, ability to repay, and property evaluation. The go-to-market is sales-led and relationship-driven, combining direct outreach to community owners and dealers, in-person events such as community open houses, online applications for homeowners, and referral partnerships (Impact Sales & Service Program, Mobile Home University). In January 2025 the company launched a Non-Recourse Home Owner's Program that extends homeowner financing without personal liability to park owners.

Name

Performance Equity Partners

Legal name

Performance Equity Partners, Inc.

Website

https://peplending.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Short description

Performance Equity Partners (PEP Lending) is a privately held, Illinois-based direct lender specializing in manufactured home community financing and commercial lending, serving community owners, homeowners, mobile home park operators, and tribal gaming borrowers across 21+ U.S. states via a bank/credit union participation platform.

Ownership category

akta.pro rank

Product category

Specialty Finance — Manufactured Housing & Small Commercial Lending

NAICS

Sales Financing (52222), Mortgage and Nonmortgage Loan Brokers (52231)

SIC

Mortgage Bankers & Loan Correspondents (6162), Personal Credit Institutions (6141)

akta.pro primary industry

P2P Loan Syndication & Participation Platforms (FSAKAHAL)

akta.pro secondary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Manufactured home financing
• Chattel lending
• Commercial mortgage lending
• Loan servicing
• Non-recourse lending

Headquarters

HQ city

Tinley Park

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Loan Interest Income: Performance Equity Partners generates revenue primarily through interest income on manufactured home loans and commercial loans it originates and holds in its portfolio or sells participations to partner banks and credit unions.
2. Loan Servicing Fees: The company services loans for community owners and other lenders, collecting servicing fees for managing payment processing, escrow administration, collections, and loan file documentation.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Performance Equity Partners is a direct specialty lender that originates and services manufactured home community loans (including chattel/home-only loans) and a range of commercial loans for casino/tribal gaming operators, mobile home park owners, commercial real estate borrowers, and small businesses. The company also operates a loan participation program with banks and credit unions and, as of January 2025, a Non-Recourse Home Owner's Program that protects community owners from resident loan defaults.

Product overview

Performance Equity Partners (operating as PEP Lending) is a specialized lending company offering two core product lines: manufactured home community financing and commercial lending. The manufactured home program (launched originally in 1994 from a National Bank and continued via a sales finance corporation formed in 2007) provides financing for the purchase of manufactured homes located in communities, along with loan servicing, collections, and document management support. The commercial lending division originates and services commercial loans across the country using a participation loan platform, covering casino and tribal gaming financing, mobile home park loans, commercial real estate mortgages, and equipment term loans. The recently launched Non-Recourse Home Owner's Program (January 2025) expands the manufactured home financing offering with a liability-shielded product for homeowners.

Differentiator

Problem solved

Functional benefit

Products and services

• Manufactured Home Community Loan Program
• Commercial Lending (Casino/Tribal Gaming, Mobile Home Park, CRE, Term Loans)
• Non-Recourse Home Owner's Program
• Loan Servicing (PROPEL platform)

Quantifiable outcome

• Lower delinquency rates for community owners working with PEP
• +1 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Impact Sales & Service ProgramcoreGTM or Marketing PartnerStrategic partnership providing sales expertise for park dealers and owners. The program delivers sales horsepower to help move manufactured homes quickly and efficiently, complementing PEP Lending's financing solutions. Dealers and park owners benefit from over 30 years of combined experience in sourcing homes, navigating financing and title issues.
• Mobile Home UniversityminorGTM or Marketing PartnerIndustry educational platform and content partner. PEP Lending referenced through Mobile Home University's video content about vacant lot filling strategies, connecting PEP's lending solutions with the broader manufactured housing dealer community.
• Timber Ridge Mobile Home CommunitycoreStrategic or Co-development PartnerOngoing community partnership where PEP Lending hosts open houses and provides financing for homes within the Timber Ridge community. This partnership exemplifies PEP's approach to community-focused financing and education about mobile home ownership options.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Triad Financial Services: Niche manufactured housing finance company providing origination, servicing, and capital solutions to MH retailers and communities. Closely comparable to PEP's combination of MH lending and outsourced servicing.
• 21st Mortgage Corporation: A Berkshire Hathaway subsidiary that originates and services manufactured home loans across the U.S. Direct competitor to PEP's manufactured home financing program, with a much larger balance sheet and similar chattel lending focus.
• Vanderbilt Mortgage and Finance: Another Berkshire Hathaway-owned manufactured home lender serving community residents and operators. Overlaps directly with PEP's MH origination, portfolio acquisition, and servicing offerings.

Emerging players

• Regional Management Corp. Branch-based consumer finance company originating and servicing installment loans across multiple states. Similar size, branch-led origination model, and small-loan installment product to PEP.
• Mariner Finance, LLC: Branch-based personal installment loan provider serving non-prime borrowers. Comparable unsecured installment loan product and similar middle-market customer profile.
• CURO Group Holdings Corp. Multi-channel consumer finance provider of unsecured and secured installment loans to non-prime borrowers. Comparable on the chattel/installment personal loan product side that anchors PEP's MH lending business.
• Sun Loan Company: Installment loan company with branch presence across multiple U.S. states offering personal installment credit to non-prime borrowers. Comparable scale, loan product, and consumer credit segment.

Broad incumbents

• OneMain Holdings, Inc. Large branch-based personal installment loan lender serving non-prime consumers nationwide. Comparable loan product (unsecured installment credit) and similar customer credit profile to PEP's manufactured home borrower base.
• Live Oak Bancshares / Live Oak Bank: Digitally-led, niche-focused bank that originates specialty commercial and consumer loans and sells loan participations through a partner network. Comparable to PEP's commercial lending plus loan participation distribution model.

Regional players

• Credit Human Federal Credit Union: Large credit union that finances manufactured housing and chattel loans for its members. Comparable as a participation source/destination and a competitor in the chattel MH lending segment, though structurally distinct as a depository institution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/performance-equity-partners-inc.

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Performance Equity Partners