Technology-enabled credit provider to non-prime consumers Elevate Credit announced today that RISE, its installment loan product, will now offer lines of credit to non-prime consumers in Kansas, the sixteenth state in which Elevate Credit operates. Kansans who are non-prime will be the first to receive the lines. They can withdraw the full amount at any time.
RISE is a state-licensed online lender offering unsecured installment loans and lines of credit.
“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,” Elevate CEO Ken Rees said. “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 offers the ability for customers to re-consider and take out a higher amount if needed later on,” RISE GM Tony Leopold said. “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.”
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