Investors
The Challenge: The underbanked community is standing at a critical juncture. A significant portion of the hardworking population finds themselves trapped in a cycle of high-interest payday and installment loan debt. Individuals earning between $18,000 and $72,000 annually are dedicating a substantial 10% to 30% of their monthly income to the burden of high-interest loan fees. Even those with median or lower incomes are often shelling out over $1,000 each month in fees alone, just to access credit. To compound the issue, these products hardly dent the principal balance, effectively pushing borrowers into a spiral of accumulating high-interest debt until they reach a breaking point.
The Solution: True Cost Loans – a conduit that directly reaches this underserved segment of the population. Our ability to onboard customers who are yearning for solutions they couldn't find on their own sets us apart. These borrowers are on a collision course with financial distress and historically lack an escape route. Enter True Cost Loans, providing the long-awaited exit ramp that empowers borrowers to sidestep financial ruin. With our approach, borrowers can demolish their high-interest debt within 24 months or even sooner, while simultaneously boosting their cash flow by up to 25%.
Investor Mission
“While many companies follow a linear approach, extracting wealth from the middle and bottom of the economy and channeling it upwards, True Cost Loans operates with a circular model. Our unique approach creates a cash-flow loop, fostering a more equitable distribution of wealth. As a result, we have made a conscious decision not to offer equity to investors. Our primary fiduciary duty is to our customers, ensuring their best interests are always prioritized. However, in alignment with our core values of mutual benefit, this model also safeguards our investors from dilution since they do not possess ownership stakes in the company. This collaborative approach ensures that both customers and investors mutually support each other's success while maintaining a fair and balanced financial ecosystem."
Our Team
Frank Jackson
Co-Founder
Frank is a small-dollar finance industry expert leading operations for True Cost Loans.
Jeremy Rollins
Co-Founder
Jeremy is a serial entrepreneur and finance expert developing the path for True Cost Loans.
Joey Green
Loan Officer
Joey has 15+ years in the small-dollar finance industry and is a leader in loan processing and servicing.
Linda West
Lead Developer
Linda has 20+ years in the small-dollar finance industry and is a leader in providing and vetting customer leads.
Our Strategic Partners
Eric Mathews
Eric Mathews builds innovators and entrepreneurs who grow new solutions to change industries. Eric co-founded Start Co., an internationally recognized venture development organization where he serves as CEO.
Emily T. Strack
Shareholder in the Memphis office of Baker Donelson and vice chair of the Firm's Emerging Companies Team, concentrates her practice in the areas of corporate law, mergers and acquisitions, and venture capital fundraising and fund formation.
LMS designed to solve real-world loan management problems. Totality features end-to-end automation, putting clarity and control at your fingertips.
Tokenized open banking connections to more than 50,000 financial institutions in the US and Canada. Chirp allows consumers to share transactions with a continuous 24/7 financial institution connection.
Unrivaled payment processing including ACH, Debit/Credt, Push to Card/Instant Funding, E-Check and more.
Al-powered decisioning model that automates and improves identity verification and fraud checks, bank analysis servicing tools, and lead buying optimization.
STATS
APPROVAL RATE
DEFAULT RATE
98%
2%
GROWTH RATE
PROFIT MARGIN
30%
90%
Investor Documents
PITCH DECK
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