CredSocial's Small Dollar Solution Provides Instant, 0% APR Advances.

CredSocial’s proprietary algorithm instantly offers access to earned income in advance of a paycheck for emergencies, to pay bills, and for everyday expenses.

According to a recent study by the Federal Reserve, nearly half of all Americans could not cover a $400 emergency expense without selling a possession or borrowing money.  CredSocial’s InstaCred™ platform empowers millions of Americans to forego payday loans and fees by providing instant access to funds via a CredSocial Virtual Account.  Advances can be accessed within minutes on any mobile device, after a patent-pending approval process verifies income and employment, then provides an instant advance of a member’s earned funds to a virtual account that can be used at any retailer or biller that accepts debit or credit cards.

The demand for small-dollar credit is nearly $50 billion annually and over $130 billion weekly is locked up in the payroll and banking system,

“The demand for small-dollar credit is nearly $50 billion annually and over $130 billion weekly is locked up in the payroll and banking system,” said CredSocial CEO Craig Marshall.  “People from all walks of life rely on small dollar credit for a variety of needs, like meeting emergency expenses or solving for misalignments in the timing of their income, which can cause shortfalls for covering a monthly transportation expense or even buying groceries. CredSocial has created a simple, straightforward, and transparent cash flow solution for people who need instant, no-cost access to cash advances.”

Unlike a payday or bank loans, there are no fees nor interest to use InstaCred™. CredSocial is a social marketplace community that relies on its members’ generosity for the services provided. The company’s Pay What You Want (PWYW) model trusts members to decide the value of the service and support the company’s cause with commensurate donations in exchange for the solution provided. In addtion, unlike traditional transfers that may take up to 24 hours, InstaCred™ provides instant access to funds when users need it.

With national averages for comparable products increasing every year, CredSocial foresees a future where the end user decides what they are willing to pay for banking services, based on the quality and service provided.

In 2016, underserved consumers
spent $39.4 billion
on fees and interest for single
payment loan products due in
one lump sum, typically with
terms of one month or less..
— CFSI Study 2017