The MLA represents the marketplace lending industry. Our goal is to promote a transparent, efficient, and customer-friendly financial system by supporting the responsible growth of marketplace lending, fostering innovation in financial technology, and encouraging sound public policy.
How to Join
MLA members provide access to responsible, borrower‐friendly loan products. Therefore, membership in the MLA is open only to technology-enabled platforms operating under the following basic standards the United States (if applicable, in cooperation with an originating bank). To be eligible for membership, a platform MUST:
- Have 1 year of operating history.
- Disclose transparent prices to all borrowers, including the APR for consumer loans and annualized interest rate or APR for commercial loans, and any fees or scheduled charges for a loan, including any effective prepayment penalty. Disclose this information in plain English terms, in writing, when the loan offer is presented to the applicant.
- Not offer access to payday or high‐cost installment loans, as defined by the CFPB, through the platform.
- If offering small business financing, adhere to the responsible lending standards of the Small Business Borrowers' Bill of Rights or equivalent self-regulatory standards.