LendUp
LendUp was an American online direct lender that offered payday loans, installment loans, and credit cards to consumers with low credit scores.
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LendUp was an American online direct lender that offered payday loans, installment loans, and credit cards to consumers with low credit scores. They used publicly available data to assess creditworthiness and focused on serving "the emerging middle class." LendUp was known for its "LendUp Ladder" program, which incentivized responsible borrowing by allowing borrowers to earn points and access larger loans at lower interest rates over time. However, in 2021, the company faced legal action and was fined for deceptive marketing practices and fair lending violations. As a result, LendUp ceased loan operations in January 2022.
LendUp.com is now a separate entity that operates as an online platform connecting borrowers with lenders, facilitating loan requests. The website no longer has any connection to LendUp or its former operations. It emphasizes responsible lending practices and provides educational resources about personal finance to empower consumers to make informed financial decisions. LendUp.com's mission is to help borrowers access loans from a diverse network of lenders, but they do not make loan or credit decisions themselves.
Mission
LendUp was an American online direct lender that focused on providing financial services to the “emerging middle class,” offering payday loans, installment loans, and credit cards to consumers with low credit scores. The company's mission was to provide anyone with a path to better financial health, utilizing technology and education to help borrowers build credit and achieve financial stability.
Culture
LendUp promotes a culture of social responsibility, focused on providing financial access and education to underserved communities. They aim to create a transparent and equitable lending environment, empowering customers to make informed financial decisions and improve their credit health. Their commitment to financial literacy through educational resources and tools is a testament to their mission of creating positive change in the financial landscape.
DE&I
LendUp's approach to diversity, equity, and inclusion is not explicitly outlined on the website pages provided.
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