The trade group established last year to represent online lenders continues to grow its membership.
The Marketplace Lending Association was started in 2016 by Funding Circle, Lending Club, and Prosper Marketplace. Earlier this month MLA announced that 11 new members had joined. New members include Affirm, Upstart, CommonBond, Avant, PeerStreet, Marlette Funding, Sharestates, Able, and StreetShares. New associate members include dv01 and LendIt.
“This expansion represents a new chapter for the MLA,” the organization said in a statement, “as it extends the group beyond consumer and small business lending to include platforms focused on student loan refinancing and real estate, as well as greater diversity of funding models, including lending platforms that hold loans on balance sheet.”
MLA’s goals include publication of marketplace lending best practices.