What startups are working on payday loans?

Instead, it tries to work with struggling users to make repayment arrangements, although that can ultimately include collection agencies and calls to credit bureaus. To be sure, LendUp isn’t the first Internet startup to try its hand at payday lending. read more

Rather, he's trying to convince them to sign up with his company, Employee Loan Solutions, a San Diego start-up that works with a Minnesota bank to offer short-term loans – ones that carry a high interest rate but are still cheaper than typical payday loans. read more

While Palaniappan was working at RushCard, though, he learned that an employee working in the call center had recently taken a payday loan. He immediately wrote her a personal check and told her to pay it off as soon as possible. "I didn’t want anyone who worked for me to have to use payday loans," he says. read more