FORT WORTH, Texas--(BUSINESS WIRE)--
Elevate Credit, Inc. (“Elevate” or “the company”), a leading tech-enabled provider of innovative and responsible online credit solutions for non-prime consumers, announced today that its RISE product is now offering lines of credit in Tennessee. On the heels of a successful line of credit launch in Kansas, Tennessee is the 17th state where RISE is available and the second state in which RISE is available as a line of credit.
RISE is a state-licensed online lender offering unsecured installment loans in 15 states and lines of credit in two states. Designed for the millions of non-prime Americans who may not have access to traditional sources of credit, RISE not only provides access to credit, but its features also are designed to help customers meet their immediate financial needs and improve their long-term financial futures. These features include fast credit 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.
“Reaching non-prime Tennesseans furthers our mission of improving the financial well-being of what we call America’s ‘New Middle Class,’” said Ken Rees, CEO of Elevate. “We’re happy to work alongside state regulators to help build solutions to meet the unique needs of non-prime Americans.”
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.
“This flexibility is key for Americans, who often have inconsistent income or expenses. Access to this line of credit can help smooth those turbulent financial ups and downs,” said Tony Leopold, General Manager of RISE. “We are pleased to offer a product that is ‘Good Today, Better Tomorrow.’ to a new set of customers in order to improve their financial future.
Elevate (ELVT) has originated $4.5 billion in credit to more than 1.7 million non-prime consumers to date and has saved its customers more than $2 billion versus the cost of payday loans. 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.