How does Possible approach social impact through lending? | Possible FAQ

Описание: Possible Finance is a Public Benefit Corporation. Here’s what that means.

A Public Benefit Corporation (PBC) is a company whose corporate charter makes a commitment to balance profit with public impact. For Possible, that impact is simple: creating financial tools that improve your financial health. Unlike traditional lenders that profit when you fall behind, Possible was designed to help you move forward.

This structure is written into our corporate charter and enforced by law. It means products like the Possible Loan are flexible, transparent, and free of penalty fees. And with every on-time payment reported to credit bureaus, you can build credit history along the way.

To date, our customers have saved millions in avoided fees. To calculate how much, Possible uses fee and payday loan usage information from the Consumer Financial Protection Bureau, Center for Responsible Lending, Pew Charitable Trusts, and the Consumer Federation of America. Savings are based on the maximum fees Possible could have charged customers over the typical payday loan term, including late fees, insufficient funds fees, etc. Results will vary. Find out more on our website at possiblefinance.com.

Being a PBC isn’t the same as being a nonprofit. Possible is still a business—but one where your financial wellbeing is part of our mission. In consumer finance, that’s rare.

So when you choose Possible, you’re choosing a company that’s structured to help, not exploit. And if you’ve ever thought there had to be a better way, this is it.

👉 Learn more about Possible and our mission: possiblefinance.com

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// Loans issued by Possible or Coastal Community Bank. Terms vary by state. http://possiblefinance.com/state-lice...