Short-term lending startup LendUp is now offering “instant” online and mobile loans, according to TechCrunch.
LendUp can now deposit money into accounts in as little as 15 minutes, as opposed to the four-day process that many other services offer. TechCrunch notes that -participating banks currently offer instant direct deposits and loan decisions through LendUp. Users with non-participating banks have to wait to receive loans until the next business day.
PYMNTS.com spoke with Sasha Orloff, cofounder and CEO at LendUp, shortly after his platform launched last October.