WILMINGTON, Del.--(BUSINESS WIRE)--Marlette Funding, LLC, a national marketplace for Best Egg unsecured personal loans, announced today Frank Borchert has been appointed general counsel for the leading partner-focused, financial products and services company.
“We are aggressively pursuing partnership relationships with banks and need legal regulatory expertise to navigate the contractual agreements and ensure the consumers best interests are protected,” states Jeffrey Meiler, CEO and Founder at Marlette Funding. “Frank has a track record of success that includes high growth and high integrity and is an exceptional addition to our team.”
Previously, as Senior Vice President and General Counsel of Chase Card Services and then as Chief Regulatory Counsel for all Chase’s consumer businesses, Mr. Borchert built a team to work closely with regulators at all levels, especially the consumer financial protection bureau. During his tenure as a Senior Advisor and Counselor for the Secretary of the Department of Housing and Urban Development (HUD), and General Counsel at the Small Business Administration, Borchert had first-hand experience working in the interests of consumers and small businesses. Prior to his government experience, Mr. Borchert served as a corporate lawyer for Capital One for over 10 years where he was involved with the early stages as a public company and also handled the largest acquisition in the company’s history. Mr. Borchert holds a Bachelor of Arts from Swarthmore College and a law degree from New York University School of Law.
“With its financial expertise and seamless technology-enabled customer experience, Marlette Funding has proven that it is uniquely able to provide the easiest and most intuitive loan processing marketplace,” states Frank Borchert. “With the explosive growth of P2P lending and the great benefits to consumers, Marlette Funding is extremely well-positioned to realize aggressive revenue growth plans for everyone in its partner ecosystem.”
Borchert is a timely addition to Marlette’s strong growth. The company recently announced that loan originations in the first five months of this year surpassed the originations from 2014 and other key milestones that include new office space, over 20 new employees and ongoing aggressive recruiting efforts through 2015.
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.