State Farm® and LightStream Launch New Alliance Relationship
State Farm agents will soon be able to offer LightStream consumer lending products.
State Farm® has entered into an agreement to offer consumer lending products through LightStream, a premier online consumer lender that is a division of Truist Bank. Truist is the seventh largest commercial bank in the United States and serves over 15 million customers.
LightStream’s ability to provide solutions for customers and agents complements the State Farm independent contractor agency distribution model. The close alignment of each company’s values sets a solid foundation for continuing to help more people in more ways.
“State Farm agents have conversations with customers every day, and we’re excited this alliance will allow us to offer them access to LightStream’s consumer lending products, including vehicle loans. It also represents another step in our overarching alliance strategy to enable our agents to offer products we know customers need, even when those products are not manufactured by State Farm,” said Mike Kish, Head of Corporate and Business Development.
“Like State Farm, LightStream is built on a commitment to excellence as we help people fulfill their needs and goals through unsecured financing at competitive rates and an award-winning customer experience,” said LightStream Executive Vice President Mark Ford. “LightStream financing is available for practically any purpose,” added Todd Nelson, Senior Vice President of Strategic Partnerships. “Our breadth of auto lending is particularly strong, covering loans for refinance, new, used, lease buy-outs and person-to-person purchases for any car, any brand and through any seller or dealer the customer wants.”
LightStream is a division of Truist Bank. We believe that good-credit customers deserve a fast and easy loan process, award-winning service and excellent rates.
Available in all fifty states, LightStream provides unsecured loans up to $100,000 with no fees or prepayment penalties. Via a quick, simple online process, LightStream allows customers with strong credit to borrow for purchases that had previously required collateral or fall into categories where few or no loan options exist. As a winner of many industry and consumer awards, LightStream continues to be a fintech pioneer and the nation’s premier online consumer lender.
For 100 years, the mission of State Farm has been and continues to be to help people manage the risks of everyday life, recover from the unexpected, and realize their dreams. State Farm and its affiliates are the largest providers of auto and home insurance in the United States. Its more than 19,400 agents and approximately 53,400 employees serve over 87 million policies and accounts – which includes auto, fire, life, health, commercial policies and financial services accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 42 on the 2022 Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com.