Think Finance also sells its technology to banks that create and issue consumer lending cash advance winfield ks. And in 2014, it spun off its own consumer lending products into a separate company, Elevate, of which Ken Rees is the CEO. Think Finances former chief integrity officer, Martin Wong, is Think Finances current CEO.
There is a strategic smokescreen in place obfuscating the true relationship between Think Finance and Plain Green Loans, said Radek Jagielski, a senior analyst at PrivCo, a provider of financial data on privately held companies.
Jagielski researched the companies at HuffPosts request. According to the agreement submitted as an exhibit in tribal court and a former Plain Green executive, Think Finance provided everything the tribe needed to start the online lending business: a portfolio of Think Finance customers from its old rent-a-bank operation, underwriting software, payment processing, marketing, an offshore loan buyer and legal representation.
Plain Green offers small loans of between 250 and 1,000 for first-time borrowers. Returning customers are eligible for loans up to 3,000. The agreement between the tribe and the company explains how when a customer logs on to Plain Greens website and applies for a loan, Think Finance's software processes the customers information, evaluates whether to make the cash advance winfield ks and calculates fees.
According to a 2011 flow chart created by Think Finance, Plain Green pays TC Decision Sciences, which Think Finance has said in federal court filings is one of its entities, 50 for each approved and funded loan.
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