Mellon Bank Corp. Wednesday began syndicating a $1.25 billion credit for H&R Block, which is once again gearing up to offer tax-refund loans.

The Mellon loan, which is structured as a one-year revolving credit, will provide liquidity to the Kansas City, Mo.-based tax preparer for its so-called "Rapid Refund" program. By offering refund anticipation loans, H&R Block lets taxpayers collect their refunds within days of filing.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.