Rachelle Heidlebaugh: Fintech gives North Carolinians the credit they deserve

Rachelle Heidlebaugh: Fintech gives North Carolinians the credit they deserve

An alarming number of North Carolinians live under constant threat of financial ruin. Four in 10 residents have nothing saved. And the average North Carolinian has a credit score of just 661, well below the 700 that most small banks require for a loan. Without access to bank loans, lots of folks are forced to rely on high-interest loans from predatory lenders for even the smallest unexpected expenses. These individuals too often find themselves trapped in a cycle of debt that stymies their financial prospects for years. Luckily, a more promising option for borrowers with poor credit is emerging. […]