Strong Consumer Demand
Personal loans for card debt consolidation have grown 300% since 2010. Consumer Loans – Personal Loans, Student Refinance, Home Improvement Loans, and Solar Financing account for $60B annual origination.
Affluent Segment With Home & Auto Needs
Personal Loan & Student Loans Refinance borrowers have robust credit profile (avg. FICO 700-740, avg. income $100,000+). Most have upcoming Home & Auto needs.
Choose: Higher yield (10%) and shorter duration (3 years) Personal Loans or lower risk (.25% loss rates) and longer duration (5 years) Student Loans Refinance.
Range of Options
Lenders can not only choose the program based on enterprise risk and returns goals but also have flexibility to ‘build their own’ or ‘buy’ from FinTech originators.