Pheabs is an online loans connections service based in the US and is helping customers from all walks of life to get the finance that they need.
Customers can apply online and borrow between $100 and $35,000 and they are connected to the lender who is most likely to approve their loan based on various things including the loan amounts, duration, and the customer’s lending profile, including income and credit status.
The company was founded by Dan Kettle, who has over 10 years in the consumer finance industry across the US and the UK.
“I set up Pheabs in 2018 and the name came from the Friend’s character, Phoebe, and it had a nice ring to it!” explains Kettle. “A lot of lenders have short and snazzy names, such as Wonga, Zopa, and Amigo.”
“After spending years working in the UK’s short-term lending market, there were a lot of exciting opportunities in the US. Firstly, most of the country’s lenders were based in high street stores, in fact, there are over 28,000 payday stores in the US – and there was little real innovation online.”
“Of course, people have been able to apply for loans online in the US for years, but the quality of the customer journey and ability to find the right lender was several years behind that of the UK, probably because the UK is significantly more regulated and competitive, so UK companies have had to up their game and use different marketing, loans alternatives, and technology.”
“Pheabs is very technology-driven. Customers can submit a loan request online in less than 5 minutes and get an instant decision from a lender who is truly looking to fund their loan. With this process, customers should receive a loan in 24 hours, but some have been able to get loans within 15 minutes or 1 hour.”
“Customers can have peace of mind knowing that they will not be charged any fees for using Pheabs and there will not be any impact to their credit rating.”
Pheabs is open for people of all credit histories and backgrounds. When given a loan decision, those with poor or bad credit backgrounds may be steered towards products that require security, additional collateral, or slightly higher rates to overcome the added risk of default.
Short term and payday lending is legal in the United States, but only at the state level, hence is available in 37 states including Texas and California, but banned in 13, including Massachuttes and New York.
For more information, visit: https://pheabs.com/
One CommentLeave a Reply
Hello, Pheabs. How long does it take to make a profit in a similar financial niche?