There is some conjecture that payday financing is scheduled to own a year that is big. Sufficient reason for valid reason.
As previously mentioned in US Banker’s “8 Nonbanks to view in 2013,” a few technology startups are making short-term credit the only real focus of the business structure. The slideshow mentions ThinkFinance, an internet business that uses information gathered via social networking to drive the cost down of the short-term loan, and Wonga, a short-term loan provider situated in the U.K. that is considering a visit for this region of the pond.
Other programs are focusing on the room. ZestFinance, a Hollywood, Calif., business, is advertising an underwriting model to loan providers so it claims has a standard rate 50% much better than industry average. BillFloat, A san francisco bay area startup that gives a short-term financing platform, simply announced it had raised $21 million to grow its loan offerings. (more…)