About: LendUp

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An Entity of Type : yago:WikicatPrivatelyHeldCompaniesInTheUnitedStates, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)
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LendUp was an American online direct lender. It offered payday loans, installment loans, and credit cards to consumers with low credit scores using publicly available data to assess creditworthiness. The company referred to its customers as “the emerging middle class.” LendUp also issued credit cards in partnership with Tom Steyer's Beneficial State Bank. In 2016, LendUp paid $6.3 million in fines for deceptive practices and widespread violations of payday and installment loan laws. In 2016 it was again sued by the Consumer Financial Protection Bureau for violating the Military Lending Act.

Attributes	Values
rdf:type	Thing company schema:Organization dul:Agent dul:SocialPerson agent wikidata:Q24229398 Organization Business enterprise yago:WikicatCompaniesBasedInSanFrancisco,California yago:Abstraction100002137 yago:Company108058098 yago:Group100031264 yago:Institution108053576 yago:Organization108008335 yago:YagoLegalActor yago:YagoLegalActorGeo yago:YagoPermanentlyLocatedEntity organisation yago:SocialGroup107950920 yago:WikicatFinancialServicesCompaniesOfTheUnitedStates yago:WikicatPrivatelyHeldCompaniesInTheUnitedStates
rdfs:label	LendUp (en)
rdfs:comment	LendUp was an American online direct lender. It offered payday loans, installment loans, and credit cards to consumers with low credit scores using publicly available data to assess creditworthiness. The company referred to its customers as “the emerging middle class.” LendUp also issued credit cards in partnership with Tom Steyer's Beneficial State Bank. In 2016, LendUp paid $6.3 million in fines for deceptive practices and widespread violations of payday and installment loan laws. In 2016 it was again sued by the Consumer Financial Protection Bureau for violating the Military Lending Act. (en)
foaf:name	LendUp (en)
foaf:homepage	https://www.lendup.com/
name	LendUp (en)
foaf:depiction
location	San Francisco, California
dcterms:subject	2012 establishments in California American companies established in 2012 Companies based in San Francisco Y Combinator companies Financial services companies of the United States Privately held companies of the United States Financial services companies established in 2012 Social finance
Wikipage page ID	40131766 (xsd:integer)
Wikipage revision ID	1080490491 (xsd:integer)
Link from a Wikipage to another Wikipage	Private company Beneficial State Bank PayPal 2012 establishments in California American companies established in 2012 Companies based in San Francisco Y Combinator companies Google Ventures Andreessen Horowitz Tom Steyer Alexis Ohanian Nigel Morris Financial services companies of the United States Privately held companies of the United States Financial services companies established in 2012 Social finance Y Combinator (company) Kleiner Perkins Caufield & Byers San Francisco, California Payday loans
Link from a Wikipage to an external page	https://www.lendup.com/
sameAs	LendUp LendUp LendUp LendUp LendUp LendUp
dbp:wikiPageUsesTemplate	dbt:Circa dbt:Infobox_company dbt:Reflist dbt:Short_description
thumbnail	wiki-commons:Special:FilePath/LendUp_Corporate_Logo.svg?width=300
area served	Nationwide (en)
fate	Defunct (en)
foundation	2012 (xsd:integer)
founders	(en) Jake Rosenberg (en) Sasha Orloff (en)
homepage	https://www.lendup.com/
industry	Consumer finance (en)
key people	Nigel Morris (en) Anu Shultes (en) Bill Donnelly (en) Vijesh Iyer (en)
location	San Francisco, California
logo	LendUp_Corporate_Logo.svg (en)
logo size	220 (xsd:integer)
products	Payday loans, installment loans (en)
subsid	Ahead Financials (en)
type	Private company
has abstract	LendUp was an American online direct lender. It offered payday loans, installment loans, and credit cards to consumers with low credit scores using publicly available data to assess creditworthiness. The company referred to its customers as “the emerging middle class.” LendUp also issued credit cards in partnership with Tom Steyer's Beneficial State Bank. LendUp was co-founded by in 2011 by stepbrothers Sasha Orloff and Jake Rosenberg and incubated at Y Combinator.The company positioned itself as a "socially responsible lender," and claimed to provide access to financial services for "underbanked" Americans in addition to lower cost credit and credit-building opportunities. LendUp received $325 million in equity and debt financing from PayPal, Kleiner Perkins Caufield & Byers, Google Ventures, Andreessen Horowitz, Alexis Ohanian, Y Combinator and QED Investors, among others. In an article published shortly after the company's launch, Time Magazine wrote that LendUp "says it’s not like other payday lenders. Yet the fees it charges — a little over $30 to borrow $200 for two weeks — are similar to what its competitors charge." In 2016, LendUp paid $6.3 million in fines for deceptive practices and widespread violations of payday and installment loan laws. In 2016 it was again sued by the Consumer Financial Protection Bureau for violating the Military Lending Act. In December 2021, as a result of deceptive marketing and fair lending violations, LendUp was fined $100,000 by The U.S. Consumer Financial Protection Bureau. Additionally, the company was required to stop issuing new loans and stop attempts to collect on certain loans. The action was taken to resolve a September 2021 lawsuit that alleged LendUp practiced illegal and deceptive marketing in violation of the 2016 finding. It ceased loan operations in January 2022. (en)
gold:hypernym	Lender
prov:wasDerivedFrom	wikipedia-en:LendUp?oldid=1080490491&ns=0
page length (characters) of wiki page	8505 (xsd:nonNegativeInteger)
fate	Defunct (en)
founding year	2012-01-01 (xsd:gYear)
number of employees	32018 (xsd:nonNegativeInteger)
key person	Nigel Morris
product	Payday loans
type	Private company

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