How lending startups are attempting to edge out payday loan providers

How lending startups are attempting to edge out payday loan providers

And a brand new legion of lending startups serving non-prime borrowers like Lend and Elevate are hoping to profit from the room typically held by payday loan providers, an industry approximated to be well well worth $38.5 billion. ( Other lenders that are online Prosper and SoFi target borrowers with a high credit ratings.)

“If you are taking out of the lending that is fintech do you know the choices? With conventional banking, it is essentially charge cards,” said George Hodges, manager of strategy and fintech innovation at PwC. Continue reading “How lending startups are attempting to edge out payday loan providers”