RealTime IT News

LendingTree Inc. Chooses Agency Finalists

Online loan marketplace LendingTree Inc. narrowed its search for an agency to three finalists for the estimated $50 million account.

Those making the cut are Mullen Advertising, Lowe & Partners/SMS and The Martin Agency.

"These agencies reflect a careful screening process aimed at identifying the best long-term strategic and creative communications partner for LendingTree as we enter the new millennium," said Reginald Bowser, vice president of marketing for LendingTree.

The agency review will conclude by the end of October. It is anticipated that the new agency will commence the LendingTree assignment no later than Nov. 1.

AAR/Bob Wolf Partners is handling the review and consulting with LendingTree.

LendingTree recently announced that the company had secured $50 million in private equity capital from a group of investors including Capital Z, GE Capital, Goldman Sachs, Marsh & McLennan and priceline.com.

LendingTree's technology enables consumers to apply for a variety of loan types including home mortgage, equity financing, auto loans, personal loans and credit cards. More than 80 national and regional lenders participate, including Citibank and Chase Manhattan Bank.