New lenders are entering what was once the realm of payday lending, pitching loans for renters, as cities grow increasingly unaffordable
New lenders are entering what was once the realm of payday lending, pitching loans to young renters in increasingly unaffordable citiesJennifer Burnes says the paychecks from her work as a model and designer in Hollywood arrive sporadically, posing a challenge to paying monthly rent. “You know the check’s on the way, you just don’t know when, exactly,” the 22-year-old said.
That is why she turned to StayTony. The property manager has teamed up with Uplift, one of several startups offering loans to recent college graduates, professionals moving to a new city and others who want to build credit or could use assistance making rent payments.
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