Press release

Disruptive Fintech, OneBlinc, Offers Affordable and Fair Financing Options to Financially Stressed Individuals

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Sponsored by Businesswire

BlincLoans, now OneBlinc, a disruptive fintech, brings affordable and fair financing options to the underserved, money-strapped, poor-credit individuals, as an alternative to predatory lenders. Payday lenders charge an average 400 percent Annual Percentage Rate (APR), while overdraft, returned checks, insufficient funds and late fees charged by banks, cost financially strapped individuals $170 billion per year, according to the Financial Health Network.

“While payday lenders and banks are running a very lucrative business, their practices are putting many people in severe financial distress,” said Fabio Torelli, CEO and Co-Founder of OneBlinc. “Some of our customers spend more than 10% of their total net income on bank overdraft, insufficient funds and late fees alone.”

OneBlinc disburses personal loan funds in a few hours, with an APR capped at 35.9% and without a traditional credit check. To determine credit worthiness, the company analyzes information from multiple sources, using technology, machine learning and Big Data. OneBlinc reports payment history to the major credit bureaus, so those who don’t default can rebuild their credit.

“We help our customers achieve financial stability with innovative products, convenience and reasonable pricing. We also reward loyal customers by unlocking new features on our platform,” commented Torelli.

When customers consistently make on time payments, OneBlinc gives them the ability to refinance the terms of the original loan with a higher amount and lower APR. Additionally, OneBlinc alerts customers when their account is about to be overdrawn, and offers paycheck advances at no additional cost. OneBlinc provides customized, real-time, tips/advice to help customers make better financial decisions.

“Our approach has always been to provide financial solutions and tools to hard working people and save them billions of dollars in fees. Through technology and data, we offer them an opportunity to get out of a debt-driven vicious cycle, while helping them rebuild their financial stability and credit,” concluded Torelli.

OneBlinc is licensed in seven states (Alabama, Arizona, Florida, Georgia, Maryland, Missouri and Utah) and plans to double the number of states served by the end of 2019. OneBlinc has a 98% 5-star satisfaction rate on Trustpilot.

For more information visit www.oneblinc.com.

About OneBlinc

OneBlinc, a tech-enabled financial platform offers the opportunity to rebuild credit as well as education and finance related services to help people up their money game, avoiding abusive fees and predatory rates. OneBlinc doesn’t rely on credit scores to assess credit worthiness, instead it uses technology to assess the applicant’s solvency.