RealTime IT News

LendingTree Launches Loan Network

LendingTree Inc. launched The LendingTree Branch Network, allowing participating e-commerce sites to offer their customers financing solutions for cars, consumer electronics, vacations, furniture, luxury items and homes.

Web sites participating in The LendingTree Branch Network provide access to competitive rates for loan types such as mortgage, auto, personal and credit cards. Affiliates are paid a fee for every complete loan application submitted through one of their links.

The company said that consumers can apply for loans within minutes and know within hours whether they have been approved.

"More and more Americans are buying online and every site selling a product or a service needs to be their own gateway to e-commerce," said Doug Lebda, CEO and founder of LendingTree. "That's pretty difficult to do if you're not giving your customers financing options beyond credit card payments. LendingTree is very simply allowing e-commerce sites to add a financing resource for their customers who want to purchase but realize that they just don't have enough money on hand."

Site operators that want to affiliate may visit the LendingTree Web site and fill out a membership application. Approved sites receive an electronic branch program affiliate referral logo that provides a link to either a specific area within LendingTree's loan service or to LendingTree's home page for access to all loan categories.

The LendingTree Branch Network is enabled by Be Free, a provider of affiliate network and management services. Be Free's Affiliate Serving Technology (BFAST) manages the entire business process of enrolling, supporting, tracking and managing the LendingTree Branch Network.