Company Overview of Think Finance Inc.
Think Finance Inc. develops financial solutions to meet the needs of underbanked consumers. It offers Presta to purchase electronics and housewares online; quid.co.uk to borrow money; and PayDay One to pay bills, avoid bounced checks, and cover unexpected expenses. The company primarily serves teachers, nurses, and craftsmen worldwide. Think Finance Inc. was founded in 2001 and is based in Fort Worth, Texas with an additional office in the United Kingdom.
4150 International Plaza
Fort Worth, TX 76109
Founded in 2001
Key Executives for Think Finance Inc.
Chief Executive Officer and President
Senior Vice President of Loan Operations and Director
Compensation as of Fiscal Year 2013.
Think Finance Inc. Key Developments
Think Finance Launches RISE, an Installment Loan Priced Significantly Lower Than Current Marketplace Alternatives
Oct 29 13
Think Finance launched an installment loan priced significantly lower than current marketplace alternatives called RISE. RISE has rates that start at a third less than payday loans and drop to as low as 36% over time with positive payment history. In addition to better rates that drop over time and reporting payments to a major credit bureau to help customers improve their credit scores, RISE provides free credit monitoring through TransUnion to anyone who registers on the site. RISE also offers Financial U, a free online learning center that features videos and tools designed to help customers understand essential financial concepts and practice healthy spending habits.
Think Finance Expands Availability of Emergency Credit Product in US
Oct 8 13
Think Finance Inc. announced that its new emergency line of credit product for employees elastic is in the process of completing integrations with 35 payroll providers and four payroll software platforms. The product will soon be accessible to seven million employees across the country. Elastic is designed to give employees access to cash when they need it, with flexible and affordable repayment options, including the option to have payments made through their paychecks. The firm said that the product is priced significantly lower than payday loans, bank deposit advances, bank overdraft charges and other forms of emergency credit, providing a more affordable way to manage employees' financial concerns.
Think Finance Inc. Launches Elastic to Help Employees Manage Financial Emergencies
Sep 11 13
Think Finance Inc. announced the launch of elastic, a line of emergency credit for employers to offer to their employees priced at one-fourth of the cost of a payday loan with a much more flexible repayment period. Credit options are limited for many Americans, putting a strain on employees in need of emergency credit and making their financial difficulties a workplace concern. Elastic can help ease employees' financial concerns, increase productivity and provide employers with a valuable tool to build loyalty and prevent loss or theft. Elastic seamlessly integrates with company payroll systems so there is nothing for the employer to manage. With elastic, companies can offer a convenient, secure and responsible way for employees to access a confidential emergency advance line of credit ranging from $200 to $1,000. Elastic is available 24/7 and is deposited directly into the employee's personal bank account, payroll card or prepaid card as early as the next business day. Employees can choose to pay back the advance in one to five payments, and payments can come directly from the employee's paycheck, making elastic the most flexible and convenient emergency cash option available. Employers can offer elastic through their payroll provider at no additional cost. Employees simply sign up for an account online and once approved, requested salary advances are provided within one to two business days. Advances and the associated fees are automatically deducted from the employee's next eligible paycheck, with the option to pay back the advance in up to five payments. Elastic is much more affordable compared to other forms of emergency credit like payday loans, bank direct deposit advance or even bank overdraft charges. The initial fee for an advance is just 5% of the total loan. If an employee makes all payments on or before the due date, there are no additional fees or charges.
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