LoanNow is concentrating on producing possibilities for deep subprime customers (low 500 FICO) by being truly a accountable loan provider and maybe perhaps not rolling over any loans (instead, it makes an instalment for repayment for delinquents) and next inspiring the debtor to settle on time through its proprietary inspiration algorithm. This has added another device for encouraging borrowers by reporting all credit tasks to TransUnion, the 3rd biggest credit bureau in the us.
LoanNow is an on-line market loan provider trying to upend the cash advance industry. The Orange-County based start-up has raised over 50 million dollars with debt funding from unnamed investors that are institutional. (more…)