Extends access to loans to network of community banks
WILMINGTON, Del., May 5, 2022 /PRNewswire/ — Financial technology company Marlette Holdings, Inc. has partnered with BancAlliance to launch a new Best Egg loan purchase program for more than 300 community banks within the BancAlliance network. Under this new program, these community banks will have the opportunity to grow their loan portfolios through access to an attractive category of loans traditionally led by large banks.
“We see enormous value in expanding the reach of our platform through BancAlliance and its national network of members,” Andrew Deringer, director of the capital of Marlette. “For years, Best Egg has helped people achieve their financial goals by providing simple, accessible and personalized solutions that address the challenges they face in managing their day-to-day finances. purchasing loans for BancAlliance and the network of community banks it represents, we can help even more individuals and families across the country build financial confidence and a better financial future.”
Since its launch in 2014, Best Egg has worked to help customers feel more confident about their finances by providing fast, easy and convenient ways to get personal loans for debt consolidation, major purchases , home improvements or unexpected expenses. Best Egg personal loans range from $2,000 for $100,000have fixed rates typically as low as 4.99% and can be paid over a window of two to six years.
“We are excited to launch our loan buyback program with Marlette and offer our member banks the ability to purchase consumer loans issued through the Best Egg platform,” said Lori Bettinger, Chairman of BancAlliance. “At BancAlliance, we believe that community banks provide crucial support to our neighborhoods, and we work to ensure that community banks continue to thrive in an ever-changing world. We welcome the opportunity to offer our members these loans, supporting the financial goals of customers across the country, through an efficient and streamlined program accessible only to network members. The program enables member banks, often seeking higher returns and portfolio diversification, to loans, to add consumer loans to their balance sheets.
BancAlliance was founded in 2011 as a collaborative solution for community banks to enable them to access attractive credit markets that large banks typically dominate. Today, there are more than 300 BancAlliance member community banks, spread across the country. BancAlliance members can participate in various loan programs, providing access to diversified portfolios of commercial, consumer and small business loans.
About Marlette Holdings, Inc.
Marlette Holdings, Inc. is a leading financial technology provider whose subsidiaries develop and operate Best Egg, a financial wellness platform that provides products and resources aimed at helping people feel more confident in managing of their day-to-day finances. Since March 2014Best Egg Personal Loans has delivered over $18 billion in consumer lending with strong credit performance, welcomed 192,000 members to the recently launched Best Egg Financial Health platform and enabled more than 46,000 cardholders to carry the new Best Egg credit card in their wallets. For more information, visit www.bestegg.com.
BancAlliance offers community banks efficient access to lending services available only through membership. BancAlliance has over 300 member banks across the country. Our mission is to enable our members, the banks that drive our business, to prudently diversify into high quality lending, in accordance with the highest business and regulatory standards, without changing the nature or mission of traditional community banking. Learn more about www.bancalliance.com.
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SOURCE Best Egg