Planning to Disrupt Payday Lending, a16z-Backed LendUp Now Has Instant On The Internet And Cellphone Loans

Y Combinator-incubated LendUp launched in October with supporting from Kleiner Perkins, Andreessen Horowitz, Bing Ventures, Kapor Capital as well as others, to carry a fresh answer to an old issue: you need to pay your bills now, but you don’t have the cash to pay for them. As opposed to move to predatory loan providers and banking institutions, making use of their high interest levels, borrow cash from friends or protect your eyes and hope they go away, where do you turn?

It might appear like a predicament that only befalls the chronically reckless, however in reality, 15 million People in america looked to payday loan providers to borrow cash a year ago. In the place of winding up saddled with long-term financial obligation from concealed fees or wrestling with Draconian terms and expensive rollovers, LendUp would like to offer those trying to find a fast fix to a short-term monetary conundrum an approach to borrow funds without concealed charges, high priced rollovers and high-interest prices. Continue reading