Chicago-based equity this is certainly personal Victory Park Capital, which features past united states of america Senator Joe Lieberman and past Chicago Mayor Richard Daley on its Advisory Board, has furnished funding for many online creditors, a quantity of which have utilized tribal funding or РІР‚Сљrent-a-bankРІР‚Сњ schemes to circumvent state payday lending and usury laws and/or paid big fines associated with state and federal regulatory complaints.[i]
Think Finance РІР‚вЂњ Victory Park Capital has funded Think Finance since just.
At that time, Victory Park Capital had spent very nearly $350 million with Think Finance september. Specially, Victory Park seems to have dedicated to GPL Servicing (GPLS), a Cayman Islands-based entity that acquired loans from Plain Green, a tribal financial institution owned by the Chippewa Cree Tribe.[iii], Bloomberg Businessweek, citing an unnamed supply, reported that Victory Park Capital funded the Plain Green loans by taking a 99 percent participation these were produced by the tribe inside them once.[iv]