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,” said 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.