SUMMARY DESCRIPTION
- Online consumer lender
- Modest credit safety net for consumer’s emergency expenses
- Insurance type model – fixed monthly membership fee for enabling rapid small level loan
- Cheaper than many near prime lenders and other providers to this segment
OPPORTUNITY/INVESTMENT THESIS
- Large, growing demand for emergency loans by cash strapped individuals
- Banks retreating from or finding hard to serve lower income segments, except at very high rates/cost
- Need for regulatory friendly approach
- Need and opportunity to empower individuals to improve financial stability and credit scores and remove stress