improve-bad-credit-rating

Financial tech startup Self Lender moves to Austin, grabs more seed funding
The credit system in America isn’t great. It’s hard for people to establish and rehabilitate their standing inside of it.

 

Self Lender takes on the problem by letting people borrow a small sum of money that is held in escrow. The debt is paid back over a period of three, six, nine or twelve months. A simple payment plan lets the user pay off the sum in a regular fashion, and the company returns nearly all the money that the user “paid off” at the end of the payment period.

Users can actually use Self Lender to save. The company suggested that a user could build their credit, and accrete funds easily to cover a down payment for a car, the loan for which they would be able to qualify given their improved credit standing.