Installment loan provider LendUp, which targets clients underserved by the credit system

Installment loan provider LendUp, which targets clients underserved by the credit system

Has struck a milestone of $2 billion financed through the working platform. It’s delivered 6.5 million loans since its inception in 2012.

LendUp CEO Anu Shultes touts the platform’s ability to attain a customer base that typically can’t access personal loans from big banks. The company confirmed its loan issuance milestone in late January.

“Through our financing, training and savings programs, we’ve helped clients raise their credit pages by thousands and thousands of points cumulatively and stored them billions of bucks in interest and costs from a lot higher cost services and products, ” Shultes stated in a declaration. “While there’s a great deal more for people to achieve, this milestone is a genuine testament to the impact that economic companies like LendUp can and may have. ”

Rather than counting on a FICO credit history for underwriting new clients, LendUp works together a group of information experts on an alternative solution model that uses a larger swath of information points to evaluate danger for clients who’ve trouble credit that is accessing. „Installment loan provider LendUp, which targets clients underserved by the credit system“ weiterlesen