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Thanks to Think Finance's online lending platform, Plain Green is able to make loans all over the country. Eventually, the loans end up owned by a Cayman Islands servicing company. And Plain Green, which cites the Chippewa Cree's sovereignty in its lending agreement with customers, says that state and federal regulators have no legal standing to complain. Jen Burner, a Think Finance spokeswoman, told HuffPost that the company simply licenses its tools and support services to clients. We are proud to be a service-provider to Plain Green LLC, she said.
After entering into its arrangement with the Chippewa Cree, Think Finance also made deals with two other tribes: the Otoe-Missouria in Oklahoma, which run Great Plains Lending, and the Tunica-Biloxi in Louisiana, which run MobiLoan. Think National cash advance sandusky ohio also sells its technology to banks that create and issue consumer cash advance at a bank products.
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 cash advance at a bank 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.
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