How they describe themselves: LendUp is an online socially responsible lender that makes loans to borrowers that banks and credit unions decline. LendUp is the creator of the LendUp Ladder, an innovative program that uses small dollar loans to provide a path out of the payday loan debt trap and help borrowers build credit. LendUp is accessible on any web-enabled device and offers first time borrowers up to $250 for up to 30 days and proven borrowers up to $1,000 for up to a year.
How they describe their product/innovation: The LendUp Ladder changes the dynamics of a small dollar loan: rather than being a dangerous first step into cycle of debt, small dollar loans become an opportunity to learn good financial behavior and to build credit.
Bus. Dev., Press & Sales: Kate Schwartz, Head of Marketing, email@example.com