Liberty Lending Partners With MetaBank
Online lender, Liberty Lending has partnered with MetaBank, a wholly-owned subsidiary of Meta Financial Group, Inc., the latter announced on Thursday.
During the three-year agreement, the federally chartered MetaBank will provide personal loans to Liberty Lending customers. Both entities will market the initiative.
According to the release, Meta expects to originate between $500 million and $1 billion in personal loans.
Eligible loans will be closed-end installment products ranging from $3,500 to $45,000 with durations lasting between 13 and 60 months.
“We are excited to partner with a respected and growing brand in online lending, and look forward to working together to deliver best in class loan products to consumers,” said Brent Turner, EVP and head of consumer lending at Meta, via release. “Furthermore, leveraging the underwriting expertise and consumer credit experience of the SCS team provides us with great resources to accomplish our objectives in consumer credit.”
“Liberty Lending’s mission is to provide innovative borrowing solutions to deserving customers. The partnership will enable Liberty Lending to further deliver on its mission to customers by leveraging Meta’s wealth of resources and expertise,” said Bill Yialamas, CFO of Liberty Lending.
Meta Financial Group is based in Sioux Falls, South Dakota while Liberty Lending is headquartered in New York, New York.Last modified: January 28, 2018