CHICAGO--(BUSINESS WIRE)--Balance Credit, a leading online lender whose analytics and technology-driven solutions have enabled nearly $100 million in credit access for underserved Americans, has expanded its personal loan offering to residents of California. The expansion will allow Balance to assist the estimated 26 percent of Californians who are currently underserved by mainstream banking products. With the launch in California, Balance has expanded its geographic coverage from 19% to 31% of US consumers.
“California is an important state for Balance Credit,” said Paul Cho, President. “A recent FDIC study indicates that 1 in 4 Californians are underbanked, meaning they have access to checking or savings accounts but also rely on alternative financial solutions. In addition to helping these consumers meet their immediate credit needs with a fixed rate, fully-amortizing installment loan, Balance Credit goes a step further by rewarding deserving borrowers with lower rates over time to help them achieve a better financial future.”
With today’s news, California marks the 9th state where Balance Credit operates, including Delaware, Missouri, New Mexico, Ohio, South Carolina, Texas, Utah, and Wisconsin.
About Balance Credit
Balance Credit offers installment loans and credit services to help underserved US consumers access a fast, convenient and trusted source of funds to balance their budgets and meet their financial obligations. Balance is a subsidiary of Braviant Holdings, a Chicago-based fintech company that uses advanced machine learning and proprietary technology to streamline the borrowing process and transform how people access credit online. Braviant is on track to more than double its annual originations in 2017, a testament to the company’s ability to develop innovative credit products that look beyond a traditional credit score to help deserving consumers build a better financial future.
