Finding the right financial support can be challenging, especially when traditional banks aren’t an option. In this article, we’ve reviewed Possible Finance, a popular fintech app offering quick loans and credit-building features. We’ve also shared the best alternatives that provide similar benefits like fast cash access, flexible payments, and transparent terms.
What is Possible Finance?
Possible Finance is a fintech company based in Las Vegas, Nevada. The company was founded in 2017. It was established to offer financial services to individuals who may have limited access to traditional banking options. Possible allows borrowers manageable installments, transparency in terms, flexibility in payment options, and no hidden charges. They offer small-dollar installment loans, a quick cash access to borrowers while helping them build credit.
Key Features
1. Fast Money Access
Possible offers borrowers up to $500 directly into their bank account or debit card, mostly within minutes.
2. Flexible Payment Options
You can repay in four installments, and the payments can be rescheduled up to 29 days from the original scheduled date without having to pay any late fees.
3. No FICO Check Required
You are eligible on the basis of your bank activity rather than the traditional credit history.
4. Opportunity to Build Credit
The loans you pay are reported to credit bureaus, which can help you develop a positive credit history with on-time payments.
5. Transparency
Consumers of Possible Finance are served with transparent pricing, they know about the costs involved, and are not charged with any hidden fees.
6. Public Benefit Corporation
Possible Finance is a non-traditional financing PBC, thus it’s legally committed to put focus on social impacts while looking into business goals and emphasizing the financial health of the community it serves.
Possible Finance Review – What Customers Have to Say?
On the official website of Possible Finance, customers have highly appreciated the company’s fast, transparent, and credit-building support services. A lady named Jenna shared that her life was actually saved a few times with the help of the company’s fast service; they actually provide you with money in your account in less than 24 hours. Their not charging a hefty fee is also widely appreciated by users.
Customers are happy that they are not being judged on the basis of their credit score, and they can access funds when in need, even while simultaneously building credit history. Unlike pay-lenders, their no late fee and flexible features allow you a little longer if needed.
In spite of favorable reviews about the company, there are also some dissatisfactions mentioned on the independent platforms from consumers. Like a customer criticised Possible Finance’s customer service responsiveness. Some have also complained about the delayed or missed payments, which negatively affected their credit scores, even when loan amounts were small.
The app has a 4.4/5 rating on the Google Play Store with over 58,878 reviews.
Best Alternatives to Possible Finance
Possible Finance is not the only way to access fast money in needful situations. I will provide you with some best Possible Finance alternatives.
1. Earnln
It is a finance app that allows you to access your earned wages before payday. After linking your bank account and employment, you can use features like Cash Out to move money you have already earned. It also offers tools like early paycheck deposit, overdraft protection, credit monitoring, and ways to save.
Key Features
- Up to $150/day cash out, maximum of $750/day.
- Interest or credit checks are not required, nor is a mandatory fee required for regular transfer.
- Early paycheck up to 2 days early.
- Offers you credit monitoring.
Google Play Rating
4.7/5 with approx 274,000 reviews.
2. Brigit
A finance app that helps users avoid overdraft fees. It gives small cash advances, enables you to track spending, build credit, and gain insights into your finances.
Key Features
- $25-$250 instant cash advance when you qualify.
- There is no credit check, no late fees, and no interest required. Also offers Express delivery options.
- If it detects your risk of being at overdraft, the app will automatically send cash.
- With its budgeting tools and financial insights, you can track bills, take note of spending patterns, and get real-time insights.
- Express delivery and Credit Builder are advanced features you get with a Plus or Premium subscription.
Google Play Rating
4.7/5 with approx 245,000+ reviews.
3. Dave
Dave is a popular finance app and a user-friendly alternative to traditional banking. It’s a boon for people living paycheck to paycheck. It’s a great help in reducing reliance on costly payday loans, being a financial cushion, and it also helps develop better financial habits.
Key Features
- ExtraCash approved in minutes, up to $500.
- 2 days early direct deposit of paycheck.
- Accounts with high-interest goals to save and earn interest.
- No hidden fee or interest is charged; there is AI-based underwriting in place of credit scores.
- Also acts as your side hustle finder tool, which can help users connect to local gig opportunities.
Google Play Rating
4.4/5 with 430,000+ reviews.
4. MoneyLion
MoneyLion is a full-service app and membership platform. It is where banking options, credit-building opportunities, reward systems, and cash advance features are combined for a smooth and accessible financing. MoneyLion not only aims to provide short-term help but also keeps budgeting, investing, financial learning, and tracking all in one place.
Key Features
- Cover your short-term expenses with Instacash cash advances with 0% APR for certain amounts.
- RoarMoney banking accounts enable you to receive payment two days early, also give a contactless Mastercard, transaction alerts, and zero or low fees.
- It has loans designed to build credit without traditional credit checks.
- You can earn rewards by shopping, playing games, making daily logins, and more.
Google Play Rating
4.7/5 with approx 160,183 reviews.
5. Cleo
A popular fintech financing app built on harnessing AI assistance with transparency and helping people make better budgeting decisions.
Key Features
- Helps you navigate through emergencies by providing Cash advances in need of small amounts before pay.
- You can improve your credit score over time with the Credit Builder card option.
- You can reflect on your financial habits with the help of budgeting tools, expenditure insights, and AI assistance.
- There is transparency in how your data is used, and your linked accounts are encrypted with read-only permissions.
Google Play Rating
4.4/5 with tens of thousands of reviews.
6. Chime
Chime is one of the alternative investment options; it’s a mobile banking app made to simplify day-to-day banking and guide users to avoid many of the common fees charged by banks.
Key Features
- Premium membership offers you 3.75% interest on savings, special cashback offers, and priority customer support.
- Chime Credit Builder Visa helps you track your FICO score, and with credit tips, you can build credit over time.
- MyPay gets you paid early, and with SpotMe supports automatic overdraft coverage without fees.
- It comes with security and convenience, where there are no monthly fees and mobile check deposits. You can freeze your card anytime and receive alerts for transactions.
- With a large network of fee-free ATMs, easy transfers, and external account linking ability, banking access is smooth.
7. Empower
An alternative to traditional financing systems, allowing people to have more control over their money. It not only offers tracking and spending of income but also cash advances, credit lines, and tools to ensure savings and credit building.
Key Features
- Up to $400 cash advance directly into your bank account without any interest or late fees.
- Starting from $200-$1000 borrow with flexible payment options, and you build credit as the payments are reported to credit bureaus.
- 2 days early paycheck access, and can earn cashback on purchases and interest on card balances.
- By setting savings goals, you can automate saving extra money for yourself.
- Real-time tracking of spending, bill alerts, and notifications about unusual activity. Also, you can customize categories and monitor your credit score.
Google Play Rating
3.9/5 with over 26,000 reviews.
8. Albert
Albert is a finance app that keeps all aspects of your money in one place by stitching banking, budgeting, saving, investing, and financial guidance together. It makes your financial life simple and hassle-free.
Key Features
- Your spending, bill monitoring, and knowing where your money goes can be automated.
- Enjoy banking benefits like pay early, fee-free ATMs, and get cash back on selected purchases.
- Savings and investing are supported by automatic savings tools and direct investment in stocks, ETFs, or portfolios via an app.
- Give your smart protection to your identity with fraud monitoring. You get bill alerts and can monitor your credit score.
Google Play Rating
I couldn’t find official Google ratings, but you can check the rating on the official page of Albert.
9. Beem
Beem offers an amazing alternative to traditional cash advance apps. Users can choose how they wish to access the funds, with fees that range between $0 and $4, depending on the method they choose.
Key Features
- The overdraft feature allows withdrawals ranging from $10-$1,000 for early access to wages earned.
- There is no interest charge on advances.
- You can access funds without a credit check, ensuring fair financing to anyone and everyone.
Google Play Rating
4.5/5 based on user reviews on Google Play Store.
10. SoLo Funds
SoLo Funds is a community-driven finance platform that connects borrowers with individual lenders. It is a crowdfunding platform. It is a great deal in terms of transparency and flexibility in financial transactions.
Key Features
- Features peer-to-peer lending where you can borrow up to $625 from fellow SoLo members in line with terms set by the borrower.
- Loans without interest, you can optionally tip the lender.
- On-time payments are reported to credit bureaus, which can be beneficial in building scores.
- Median funding can be timed approx 20 mins. It’s a fast access to money.
Google Play Rating
4.6/5 based on user reviews on Google Play Store.
Conclusion
A fast-tracked finance frame allows you to be just a few clicks away from spending and accessing money. Digital lending apps like Possible Finance and its alternatives are changing the way people can leverage technology in their utmost need for finances. They are a quick, flexible, and simplified way of financing against the complex traditional banking systems. Expanding boundaries from personal financing, many fintech startups are also venturing into equity financing to scale their operations and innovatively expand services. These apps and platforms are elegant examples of how technology is merging with finance to bridge gaps to ensure fair financing across classes of people.
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