Member Spotlight | Zack Farris | American Association of Private Lenders

Our August Member Spotlight shines on Zack Farris, Founder & CEO at LendlyX!

How long have you and/or your company been an AAPL member?

I just joined

What benefit are you most looking forward to from membership/why did you join the association?

I joined AAPL primarily for the educational opportunities. I’m new to the private lending industry, having transitioned from the insurance sector, so I’m eager to learn as much as possible. At the same time, I hope to contribute value by sharing my expertise in fraud detection and prevention to help fellow members strengthen their businesses. Educational growth and networking are really what I’m most looking forward to.

What, if anything, would you/your company like to contribute to fellow AAPL members and the private lending industry?

I’d like to share my perspective on fraud across different industries and how it applies specifically to the private lending sector — both what I’m seeing and what other members are seeing. In fraud prevention, you have to stay dynamic and be willing to adapt quickly, because people who commit fraud are constantly finding new loopholes and ways around the system. You have to be adaptable and willing to change how you do business to keep up.

Advice you’d give your younger self?

Don’t be so impulsive. My younger self made a lot of tough decisions impulsively, and if I could go back, I’d tell myself to listen more to mentors and my parents so I didn’t have to learn everything the hard way. I’m naturally very driven and focused — I tend to tune out the noise, kind of like Elon Musk in that way — because I’m so hyper-focused on what I think is the best path forward. But I’d tell my younger self to seek mentorship earlier instead of trying to figure everything out on my own.

Career advice for industry newbies?

For newbies coming into the industry — and honestly, this applies to any industry — the most important thing is to give back as much as you can and be accessible to people. Be willing to help others and go above and beyond, even when they don’t ask, whether that’s making introductions or just being available. There’s plenty of opportunity for everybody, but ultimately it comes down to how you treat people — treat them with respect and be honest and straightforward.

Accomplishment you’re particularly proud of?

The accomplishment I’m most proud of is my 2023 exit. I started a company from scratch and grew it to almost $15 million in annual recurring revenue in two and a half years. I exited in July 2023 for a little over double my ARR — around $30.2 million.

Your “one big goal” for the year?

Personally, I’d love for my wife to be able to quit her job. And — this might sound a little outlandish — I’d love to be able to hire a chef and a full-time house and laundry keeper. I love cooking, but coming home to a clean house with no laundry waiting would be great. Sometimes you just have to pay for convenience.

Your personal motto/words you live by?

My personal motto is something my mom always told me growing up: “Be the fiftieth boy.” It’s based on the idea that there are forty-nine boys who walk past trash on the street, and the fiftieth boy picks it up. Or the fiftieth boy opens the door for a lady, or pulls out her chair and treats her with respect. It’s about knowing what’s hard but necessary, and being consistent and humble about it. I haven’t been perfect at living up to it, but I try, and it’s stuck with me even more as I’ve gotten older.

What is the “one weird fact about you” that you always share during teambuilding exercises?

I’m adopted — I wouldn’t call it weird, but it’s probably the fact nobody knows. I also had perfect attendance from kindergarten through twelfth grade, which just shows how competitive I am in every aspect of life.

What is your fur baby’s name?

I have a dog — a Golden Doodle named Oakley.