Provides unsecured personal installment loans up to $10,000, using an alternative underwriting model primarily based on employment data to assess creditworthiness. This approach expands access to affordable credit for underserved consumers, enabling debt consolidation, credit card refinancing, and quick funding for unexpected expenses.
Funding
$9.7M 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 individuals with limited or damaged credit histories struggle to access affordable personal loans through traditional lenders. This lack of access can force them to rely on high-interest options like payday loans, hindering their ability to consolidate debt, refinance credit cards, or cover unexpected expenses.
Solution
VIVA Finance provides unsecured personal installment loans up to $10,000, employing an alternative underwriting model that primarily leverages employment data to assess creditworthiness. By focusing on employment history rather than traditional credit scores, VIVA expands access to credit for underserved consumers. The platform offers a quick online application process with funds potentially available within 1-2 business days. VIVA's loans can be used for debt consolidation, credit card refinancing, or to address unexpected financial needs, offering a more affordable alternative to high-interest debt options. Repayment plans are designed to align with borrowers' income, promoting financial stability.
Target Audience
VIVA Finance targets employed individuals with limited or damaged credit histories who are seeking affordable personal loans for debt consolidation, credit card refinancing, or unexpected expenses.
Features
- Loan amounts up to $10,000
- Alternative underwriting model based primarily on employment data
- Online application process with pre-approval in minutes
- Fast funding, with funds disbursed as quickly as the next business day
- Repayment plans aligned with borrower income
- No penalties for early repayment
- Loan options for debt consolidation, credit card refinancing, and unexpected expenses
- Loans originated by Thread Bank, Member FDIC