Why we started Possible
Our founders saw a problem and wanted to be a part of the solution
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 people in debt. From predatory payday lending to overdraft fee revenue for big banks, the incentive is stacked against well-intentioned borrowers. Every time someone needs more time to pay, these lenders make money—it’s how they do business.
At Possible, we’re building a new kind of consumer finance company. One that’s structured to align incentives for both the customers and the company. We believe you should be able to borrow what you need, and pay it back over time. You shouldn’t pay penalty fees when your payment fails, or you need a little extra time to catch up. It’s not how the other companies are doing things—and we think that’s a good thing.
Since day one, we have never charged penalty fees, like late fees and insufficient funds fees. In fact, we’ve saved customers over $500 million because we don’t do this. Instead, it’s our mission to provide tools that help you achieve economic mobility.
To put it simply:
When our customers win, we win.
