LendUp @ www.lendup.com

LendUp

LendUp has been one of the most innovative American lenders to spring up in recent years. This company was established in late 2011 and they fully launched in 2012. The service available at www.lendup.com is the creation of Flurish Inc who are based in San Francisco, California. This tech start-up has been growing quickly over the years through a series of major investments. The major payday lenders in the United States that we have covered are known for their large store networks and their monthly products that tend to be very much alike. This is not the case with this firm that competes fully online only.

They also use technology differently than their rivals who focus heavily on credit scores. The tech used here looks at publicly available data for instance from social networks (similar to how Kreditech functions). This product is currently available in 15 states and they are always adding new locations. In their home state of California, they offer between $100 and $250 with repayment terms of between 7 and 30 days. The costs here are set daily and so you can receive a much better deal over shorter term periods in comparison to their rivals. The breakdown charge provided per $100 over 30 days would be $17.30 and you’d pay $12.50 over 14 days.

You can securely apply and later manage the loans received through www.lendup.com. Whilst some customers can benefit from instant funding, in CA you should expect cash on the next day between Monday and Friday. Specific customer support hours are not disclosed. LendUp (also popular as Lend Up) has one further notable service feature (called Ladder) that rewards loyalty. Through a point system you can earn 1000 earn time you repay and there are other ways to raise your tally. This will provide cheaper future loans, more term flexibility in select states and they can also report your activity to the major agencies to improve your credit score.