Elevate’s RISE Credit Enters a Sixteenth State, Offering Lines of Credit in Kansas
June 28 2017 - 8:30AM
Business Wire
Move broadens product offering and expands
footprint
Elevate Credit, Inc., a leading tech-enabled provider of
innovative and responsible online credit solutions for non-prime
consumers, announced today that its RISE product, traditionally
offering installment loans, will now offer lines of credit. Kansas
will be the sixteenth state where RISE’s products are available and
the first state in which RISE’s line of credit is available to
non-prime consumers.
RISE is a state-licensed online lender offering unsecured
installment loans and lines of credit. RISE is designed to meet the
needs of the millions of non-prime Americans with less than
prime-credit, who do not have access to traditional sources of
credit. RISE is a path toward a brighter financial future with
features such as fast approval, flexible loan terms, lower rates
than other non-prime lenders, rates that can go down over time,
credit bureau reporting, free credit score monitoring and financial
literacy courses.
“We have innovated our product offering to help more customers
across America who do not have access to traditional credit options
and need better options to meet their immediate needs,” said Ken
Rees, CEO of Elevate. “Importantly, we’ve done it in a way that
responsibly meets regulatory requirements in more states, which is
key to growth opportunities.”
RISE’s line of credit will offer the same simple application,
approval process, rates and flexibility of the installment loan
product. However, with RISE’s line of credit, customers will be
able to withdraw up to the full amount of their original approval
at any time.
“RISE’s line of credit offers the ability for customers to
re-consider and take out a higher amount if needed later on. For
many Americans, expenses are often unpredictable. In fact,
according to a recent study by J.P. Morgan Chase & Co., two in
five Americans experience month-to-month income swings of 30
percent or more. That’s why having access to the flexibility of an
open-ended line of credit is important in managing their day-to-day
finances,” said Tony Leopold, General Manager of RISE.
“RISE’s mission is Good Today, Better Tomorrow. We are
constantly learning from and listening to the needs of our
customers. Our focus on innovation has allowed us to offer a new
product in a new state, thereby expanding RISE’s reach. With this
growth, we are able to offer better products to more people in
America’s growing New Middle Class,” ended Leopold.
About Elevate
Elevate (NYSE: ELVT) has originated $4 billion in credit to more
than 1.6 million non-prime consumers to date. Its responsible,
tech-enabled online credit solutions provide immediate relief to
customers today and help them build a brighter financial future.
The company is committed to rewarding borrowers’ good financial
behavior with features like interest rates that can go down over
time, free financial training and free credit monitoring. Elevate’s
suite of groundbreaking credit products includes RISE, Elastic and
Sunny. For more information, please visit
http://www.elevate.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170628005314/en/
Investor Relations:Solebury CommunicationsSloan Bohlen,
817-928-1646investors@elevate.comorMedia
Inquiries:VestedIshviene Arora,
917-765-8720elevate@fullyvested.com
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