Possible Finance was created because the company’s Founders believe that every hardworking person in our society deserves a path to a better life. Today, millions of Americans feel that they can’t get ahead financially no matter how hard they work. They feel hopeless, undervalued, and stuck. That’s because the existing financial system is designed to keep hardworking people in debt. Both payday lenders and credit card companies intentionally lend to vulnerable people knowing they will get stuck in debt cycles. That’s just how these businesses make money. There is a fundamental misalignment between the interests of hardworking people and the financial companies that exists today.

At Possible, the team is building a new type of consumer finance company. One that helps customers stay out of debt rather than profits from them staying in it. One that truly has Possible’s customer’s best long-term interests at heart. Possible’s brand promise is Here for Good. And the company intends on keeping that promise to its customers and itself.

Possible Finance (Possible), the mission-driven fintech company that offers life-changing financial services for underserved consumers, announced an additional $20 million in equity funding, key executive hires and the launch of their new credit card and cash advance products – Possible Card and Possible Cash. These products build on the success of Possible’s first product, the Possible Loan – a short-term, small-dollar installment loan designed to help the one in three American adults who struggle to access affordable credit and fall victim to predatory lending practices. Currently available in 21 states, Possible has provided over 1.65 million small-dollar loans to over half a million customers since 2019. 

Possible Finance Introduces New Products

The Possible Card is not a traditional credit card with interest charges or penalty fees. Instead, Possible built a revolutionary card designed to protect members from mounting debt and improve long-term financial habits. It is the only unsecured credit card on the market with no interest or late fees – ever – and just one simple flat monthly fee. Designed specifically for those undervalued by the current financial system, Possible Card does not require a credit score check for approval and utilizes Possible's existing proprietary cash-flow credit risk technology. The company also announced Possible Cash, the first and only cash advance offering that gives customers the opportunity to qualify for an unsecured credit card. Customers who build successful track records of repayment on Possible Cash will be automatically pre-approved for a Possible Card. These offerings will allow Possible to expand nationwide and to reach more underserved consumers who need quick and affordable access to capital without jeopardizing their progress toward long-term financial health. 

Helping Underserved Consumers Improve Financial Health

“We started Possible to help people break the debt cycle caused by predatory financial products while also building up their credit history,” said Tony Huang, Co-Founder and CEO of Possible Finance. “When we realized many of our customers escaped the payday debt cycle only to jump right into a similar trap caused by credit card debt, we knew Possible could offer a better solution. Existing credit card companies work just like payday lenders – they profit by intentionally lending to vulnerable consumers knowing they won’t be able to make timely payments. To reimagine the credit card, our team applied the same principles, data and technologies we built for the Possible Loan. I am excited to bring the Possible Card to underserved consumers who desperately need a better option.” 

Possible also announced it has raised $20 million in new equity funding to fuel growth and expand its team. This round includes existing investors Union Square Ventures, Canvas Ventures and Unlock Venture Partners, as well as new investor Euclidean Capital. Possible has also recently partnered with Coastal Community Bank, Member FDIC, to accelerate the development and scale access to these critical new products. The bank partnership with Coastal is a critical component of Possible’s growth strategy, enabling the company to design and build more innovative products at scale.

"Possible has built the foundations of a very special consumer brand that can reset the current misalignment of economic incentives between financial services providers and their lower-income customers,” said John Buttrick, Partner at Union Square Ventures, about the firm’s reasons for doubling down on the Possible team. “We continue to be excited by Possible’s innovative approach to expand product offerings. And we are delighted to welcome the Euclidean Capital team on this journey with us."

Possible has expanded the company’s leadership team to include former Venmo Head of Marketing, Kevin Platshon, as Chief Marketing Officer; former Capital One Senior Credit Officer and Genesis Financial Risk leader, Ellen Falbo, as Chief Credit Officer; and former president of Credit Sesame, Jesse Levey, as Chief Product Officer. 

Why You Want a California Installment Loan from Possible

Possible Finance is an online lender that offers small installment loans to individuals with no credit or bad credit in many states, including California. Possible offers loans of up to $250 in California that can be repaid in 4 installments over the course of a month.

Traditionally, loans like payday loans were some of the only loans available to people with bad credit. These loans are immensely expensive and require the borrower to pay back the loan in a week or two, which is the cause of many defaults. Even worse, even if you pay back your payday loan successfully your credit score likely won't budge.

Possible's loans are much easier to pay back. Our loans are repaid in installments, and if you are struggling to make a loan payment, you can extend your payment up to 29 days right within the app, at no charge at all.

Further, as you pay back a Possible loan on time, your payments are reported to TransUnion and Experian, two of the three credit bureaus, which could help increase your credit score.

Possible wants to help solve financial injustice, not be a part of the problem like many traditional payday lenders. 

Live in California and are interested in a Possible Finance installment loan? Download the app today and get started!

Tony Huang, Chief Executive Officer and Co-Founder                            

“We’re unwavering in our commitment to our mission, and love building products and services that prove changing the industry for the better is, in fact, Possible.”