SunTrust Bank is partnering with American Business Financial Services to make subprime mortgage and home equity loans.
The alliance, announced Monday, pairs SunTrust's consumer finance subsidiary, SunTrust Personal Loans, with American Business' Processing Service Center Inc.
"The SunTrust network is rapidly expanding, and we were looking for a subprime partner that would expand with us," said Parks W. Avery Jr., president of SunTrust Personal Loans.
The Processsing Service Center's bank alliance program already has relationships with 14 banks. American Business, based in Bala Cynwyd, Pa., makes consumer and small business loans.
SunTrust has 1,093 branches in six states.