The Marketplace Lending Association announced on Wednesday it has welcomed nine new companies to the Association. According to the organization, these new members join as it continues to expand its presence and engage with policymakers in Washington and around the country.
The three new lending firms include Social Finance(SoFi), LendingPoint and College Ave. The six new Associate and Investor Council Members include Laurel Road, Education Loan Finance (ELFI), Arcadia Funds, Victory Park Capital, PricewaterhouseCoopers, and First Associates. The MLA now has 24 active members. While sharing more details about the new members, Nat Hoopes, Executive Director of the Marketplace Lending Association, stated:
“MLA members are playing a critical and growing role in our communities, and as more responsible lending companies unite around the MLA, we can increase our impact at both the state and federal level. Whether it is providing more mortgages online, better student loan options to those who are in school and to recent graduates, or helping thin-credit-file borrowers who often struggle to find affordable financing, these new member companies are helping borrowers get access to better financial products so they can pursue their dreams.”
Founded in 2016, the Marketplace Lending Association is a professional trade association with a mission to promote a transparent, efficient, and customer-friendly financial system by supporting the responsible growth of marketplace lending, costing innovation in fintech, and encouraging sound public policy at a state and federal level.