Wednesday, September 11, 2013

Think Finance Targets Employees With New Product

Online financial products firm Think Finance, which is based in Fort Worth, said today that it has launched a brand new product aimed at providing employees with emergency credit. Think Finance said its new Elastic product allows employers to provide a line of "emergency credit" to employees. According to Think Finance, the offering is priced at one fourth the cost of usual, paydal loans, and have a much more flexible repayment period. Think Finance has been targeting the gap between a credit card and payday loans with its products. The company did not say what kind of interest rates it will offer on the product, but did say those loans can range from $200 to $1,000. Think Finance is venture backed by Sequoia Capital and Technology Crossover Ventures.