Possible Finance provides a mobile platform that delivers instant short‑term credit—loans up to $500 and payday advances up to $300—with transparent, fee‑free pricing and flexible repayment options. The service uses income and cash‑flow data instead of traditional credit scores to approve users, and its Bill & Rent Reporting feature automatically reports on‑time rent and utility payments to TransUnion, helping customers build credit without additional debt.
Funding
$46.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many consumers lack access to quick, low‑fee short‑term credit and have limited ways to build credit history from everyday expenses, leading to financial strain and difficulty improving their credit scores.
Solution
Possible Finance offers a mobile platform that provides instant small‑loan products—up to $500 for a loan and up to $300 as an advance against the next paycheck—with transparent, fee‑free pricing and flexible repayment schedules. The service evaluates applicants using income, cash flow, and spending habits rather than traditional FICO scores, enabling approval for users with limited credit history. In addition, the Bill & Rent Reporting feature links users’ bank accounts, identifies on‑time recurring payments (rent, utilities, phone, etc.), and reports those payments to TransUnion, allowing customers to build credit without taking on additional debt. Users can manage borrowing, repayment, and credit‑building activities through a single app, with options to postpone payments up to 29 days at no rescheduling fee and a relief plan for extended repayment needs.
Target Audience
Primary customers are U.S. adults with limited or no credit history who need short‑term cash assistance and want to improve their credit scores, including renters and gig‑economy workers.
Features
- Instant loan up to $500 and payday advance up to $300 with free transfers and no hidden fees
- Flexible repayment over four pay periods or the ability to move payments up to 29 days without a rescheduling charge
- No late or penalty fees; transparent pricing displayed before borrowing
- Credit‑building Bill & Rent Reporting that automatically reports on‑time rent and utility payments to TransUnion
- Alternative underwriting that considers income, cash flow, and spending habits instead of traditional credit scores
- Mobile‑first experience with real‑time eligibility checks and instant funding
- Relief Plan option for users who need additional time to repay