Marlette Closes Proprietary Securitization Deal Worth $205 Million

| By:


After a personal-loan bond sale last month, marketplace lender Marlette Funding closed its first proprietary securitization worth $205 million.  “MFT” consists of Best Egg collateral financed via three classes of Notes and one class of Certificates.

Best Egg is Marlette’s personal loan platform with $2 billion in originations since 2014. This transaction, done through Goldman Sachs was the second securitization of unsecured consumer loans originated by Cross River Bank on the platform. In July, Marlette securitized personal loan bonds worth $180 million in Single A notes rated by Kroll Rating Agency.

This news comes at a time as online lenders and marketplaces alike feel the need to diversify sources of capital. “Accessing the securitization markets represents the third major component of a diversified funding plan, which also includes building strong relationships with institutional investors and developing on-balance sheet asset backed credit facilities,” said Paul Ricci, CFO of Marlette Funding.

Last modified: April 20, 2019
Srividya KalyanaramanSrividya's work has appeared in publications like Money magazine, Advertising Age, FirstPost and The Economic Times. She has also dabbled in business intelligence solutions, and holds a Masters degree in Business and Economic Reporting from NYU.

Category: Marketplace Lending

Home Marketplace Lending › Marlette Closes Proprietary Securitization Deal Worth $205 Million


    Splash Advance

    Amerifi Capital

    Infusion Capital Group

    The Smarter Merchant

    Merchant Financing Leads

    Banana Exchange

    Velocity Capital Group

    Redstone Advance

    CounselorLibrary

    Percent

    Hunter Caroline

    Balboa Capital

    Bitty Advance

    Legacy Capital Group

    National Funding

    Legend Funding

    Yardline

    ByzFunder

    Liquidibee

    Fenix Capital Funding

    Lendora

    IOU Financial

    Accord Business Funding

    Total Merchant Resources

    Global Funding Experts

    Wynwood Capital Group

    Central Diligence Group