There is some speculation that payday financing is defined to own a big 12 months. And with valid reason.
The sole focus of their business model as mentioned in American Banker’s “8 Nonbanks to Watch in 2013,” several tech startups have made short-term credit. The slideshow mentions ThinkFinance, a web business that makes use of information gathered via social media marketing to push along the cost of the short-term loan, and Wonga, a short-term lender located in the U.K. this is certainly considering a visit for this side associated with the pond.
Other businesses are focusing on the area. ZestFinance, a Hollywood, Calif., business, is marketing and advertising an underwriting model to lenders it claims features a standard rate 50% a lot better than industry average. Read more