Looking to Disrupt Payday Lending, a16z-Backed LendUp Now Has Instant On The Web And Mobile Phone Loans

Y Combinator-incubated LendUp launched in October with supporting from Kleiner Perkins, Andreessen Horowitz, Bing Ventures, Kapor Capital yet others, to create a solution that is fresh an old issue: you need to spend your bills now, but you don’t have the cash to cover them. As opposed to look to predatory loan providers and banking institutions, along with their high rates of interest, borrow funds from buddies or cover your eyes and hope they go away, where do you turn?

It may look like a predicament that only befalls the chronically reckless, however in reality, 15 million Us citizens looked to payday loan providers to borrow funds year that is last. As opposed to finding yourself saddled with long-lasting financial obligation from hidden fees or wrestling with Draconian terms and web link high priced rollovers, LendUp desires to provide those in search of a speedy fix to a short-term economic conundrum ways to borrow cash without concealed charges, expensive rollovers and high-interest prices.

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