Online Marketplace on pace for a 250% YOY increase in Personal Loan Volume
Wilmington, DE – June 10, 2015 – Marlette Funding, LLC, a national marketplace for Best Egg unsecured personal loans, today reports the company and product highlights for the five months of 2015.
“After posting the fastest loan volume growth in the industry in 2014, we followed it up by surpassing last year’s total in the first five months of 2015,” states Jeffrey Meiler, CEO at Marlette Funding. “The Bloomberg article in January 2015 titled, Bankers Take 10 Months to Do What Lending Club Did in 5 Years, touched on our industry-leading, exponential growth and through May we are on pace for a 250% year on year increase in originations.”
2015 Best Egg and Marlette Funding highlights:
• Exceeded 2014 loan originations of $383 million in the first 5 months of 2015
• Profitable on a GAAP basis YTD 2015
• Appointed consumer finance regulatory expert, Frank Borchert, as new general counsel
• Increased total workforce to 205
• Expanded Wilmington headquarters to ~15,000 square feet in office space
• Continued aggressive employee recruiting efforts in the second half of 2015
“2014 was a defining year for Best Egg and Marlette Funding,” said Gilles Gade, Chairman of Cross River Bank, “The company continues to execute on its strategy and is poised to expand its leadership position at the top of the online loan marketplace.”
Marlette Funding is partnering with Cross River Bank, Member FDIC, Equal Housing Lender, to grant Best Egg loans to consumers. Best Egg loan applications are processed online and approvals can take just minutes. Approved loan proceeds can be sent to the borrower’s bank account the next day. In addition to reducing consumer debt, Best Egg loans can also be used for large purchases, such as home remodeling, medical expenses, and travel.
ABOUT MARLETTE FUNDING, LLC
Marlette Funding, LLC, is a national personal loan marketplace based in Wilmington, DE. Marlette Funding was founded in August 2013 and launched its first innovative online installment loan product offering, Best Egg, in March 2014.