Marlette Introduces Best Egg Loan Purchase Program for the BancAlliance Network
WILMINGTON, Del., May 5, 2022
Extends Access to Loans to Network of Community Banks
WILMINGTON, Del., May 5, 2022 /PRNewswire/ -- Financial technology firm Marlette Holdings, Inc. has teamed up with BancAlliance to launch a new Best Egg loan purchase program for over 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 larger banks.
"We see tremendous value in expanding our platform's reach through BancAlliance and its national network of members," Andrew Deringer, Chief Capital Officer for Marlette. "For years, Best Egg has helped people achieve their financial goals by offering simple, accessible, and personalized solutions that address the challenges they face navigating their day-to-day finances. Through this new loan purchase program 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 focused on helping customers feel more confident about their finances by offering fast, simple, and convenient ways to obtain personal loans for debt consolidation, major purchases, home improvements, or unexpected expenses. Best Egg Personal Loans range from $2,000 to $100,000, have fixed rates typically as low as 4.99%, and can be paid out over a two- to six-year window.
"We are delighted to launch our loan purchase program with Marlette and offer our member banks the ability to purchase consumer loans originated through the Best Egg platform," said Lori Bettinger, President of BancAlliance. "At BancAlliance, we believe that community banks provide crucial support to our neighborhoods, and we work to ensure that community banks will continue to thrive in an ever-changing world. We welcome the chance to offer our members these loans, supporting the financial goals of customers around the country, through an efficient and streamlined program available only to network members. The program enables member banks, often seeking higher yields and loan portfolio diversification, 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 lending markets that larger banks typically dominate. Today, there are over 300 community bank members of BancAlliance, located 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 focused on helping people feel more confident as they manage their everyday finances. Since March 2014, Best Egg Personal Loans has delivered over $18 billion in consumer loans with strong credit performance, welcomed 192,000 members to the recently launched Best Egg Financial Health platform, and empowered over 46,000 cardmembers who carry the new Best Egg Credit Card in their wallet. For more information, visit www.bestegg.com.
BancAlliance provides community banks with efficient access to lending services available only through membership. BancAlliance has over 300 member banks located across the country. Our mission is to enable our members, the banks that direct our activities, to prudently diversify into high-quality loans in a manner consistent with the highest commercial and regulatory standards – without changing the nature or mission of the traditional community bank. Learn more at www.bancalliance.com.
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SOURCE Best Egg