Bootstrapping a $60K/Month Online Lending Business

&gt; Fig takes a leap of faith every time we lend. We give our borrowers an opportunity to show they’re more than their credit score<p>Reminds me of this company <a href="https:&#x2F;&#x2F;www.destacame.cl" rel="nofollow">https:&#x2F;&#x2F;www.destacame.cl</a> which helps consumers and small business owners create a record of all their monthly payments to show that even if they don&#x27;t have a credit record, they are good payers and deserve (good) credit. It&#x27;s a pretty cool concept.

An interest rate of 190% ? Wow. For those with no credit, I guess 190% APR represents the risk that the lender is taking. I&#x27;m sure that 190% rate sucks way less than your typical payday loan rate, but this is why many states have outlawed payday loans.