The ZestCash Mission
To save the underbanked billions of dollars.
30 million Americans took out payday loans last year, paying most than $10 billion in fees. They didn't take the loans to buy TVs, they used them for basic life necessities -- to pay bills, buy food, or cover health care costs -- and paid hundreds of dollars in fees for each loan.
Payday lenders charge high fees to cover defaults, but default rates are high because lenders don't try to identify customers who are more likely to pay bad. Yup, that's right, payday lenders don't underwrite, so borrowers who are more likely to pay their loans back are subsidizing those who won't pay their loans back.
That's not fair. If you are more likely to pay your loan back, you should pay lower fees.
ZestCash is different: We try to identify these customers and offer then lower rates. We use vast amounts of data to identify these customers and offer them a fair, transparent, lower-cost alternative to a payday loan.
A loan from us is about 50%
Life at ZestCash
Located on Hollywood Boulevard, we have an incredibly casual environment.