Hundy is a peer-to-peer micro-lender that uses a mobile app to help borrowers obtain loans from lenders who receive a return on their investment. It was founded by Pete Budlong and Ram Hegde with the goal of providing credit-worthy, non-prime borrowers with an opportunity to take out loans of up to $250.
Hundy uses a mobile app to create a peer-to-peer community of borrowers and lenders. Users can set up an account and request a loan in just minutes. While initial loans are capped at $100, borrowers who make all payments on time will receive a credit limit increase. The maximum credit limit is $250.
Hundy offers many benefits to both borrowers and lenders. For borrowers, Hundy offers small loans at a lower interest rate than traditional payday lenders. As loans are paid back on schedule, borrowers will receive higher credit limits and points that can be used for discounts on future loans. For borrowers who find themselves unable to pay back their loans on schedule, Hundy is willing to give them up to two extra months to do, provided they communicate with Hundy as they work through their issues.
For lenders, Hundy offers the opportunity to help those in the community who are in need of money. In exchange for lending, users can enjoy a return on investments, as well as a point system that can increase future returns on investments.
Hundy is currently available in California and is looking to expand to other states in the future.
Do For You?
If you have immediate expenses and will be able to pay back the principal loan amount plus interest, Hundy is a great option. It takes just a few minutes to set up an account and request a loan, and the interest rates are lower than those you would receive on a traditional payday loan. As you pay back your loans on schedule, you’ll increase your credit limit and earn points that you can use to receive discounts on future loans.
Hundy is also a great app if you’re interested in becoming a lender. You’ll be able to help those who are in need of small loans by lending money, and you’ll receive a return on your investment. As you continue to lend money, you’ll earn points that you can use to increase the return on your investments!
How Can You Get Involved
Hundy is currently available to people living in California. If you’re interested in getting started as a borrower, you can download the Hundy app for iOS and Android devices and set up your account. Then you can request your first loan!
If you’d like to become a lender, contact email@example.com to get your name on the waiting list and let them know if you will be an accredited or unaccredited lender. This is a great way to support your community and earn returns on your investments, so send in your info today!