Who We Help

Now more than ever there is a need to rethink traditional approaches to consumer credit. Decades–long macroeconomic trends and the recent financial crisis have resulted in a growing “New Middle Class” with little to no savings, urgent credit needs and limited options. Banks haven’t stepped up to serve this market and legacy non-prime lenders haven’t innovated. We believe Elevate’s products provide the answer and are transforming the non-prime lending industry in the US and UK by providing responsible and transparent options.

Economic Realities
of the New Middle Class

46%

of American adults say they could not cover an emergency expense costing $400, or would cover it by selling something or borrowing money1

Income volatility

2in5

Americans experience month-to-month income swings of more than 30%2

Median
Household
Income

dropped 8% from
2007 to 20133

US market size larger than prime

109M

Non-prime4

53M

Credit invisibles5

Unmet need

$143B

Total reduction in non-prime credit from banks since 20086

1Board of Governors of the Federal Reserve System, Report on the Economic Well-Being of U.S. Households 2015, 2016

2J.P. Morgan Chase & Co., Weathering Volatility: Big Data on the Financial Ups and Downs of U.S. Individuals, 2015

3U.S. Census Bureau, Income and Poverty in the
United States: 2014
, 2015

4According to an analysis of TransUnion data through the third quarter of 2014 by the Corporation for Enterprise Development

5FICO, Expanding Credit Opportunities, July 2015

6Elevate analysis, 2015

Our Consumer Commitments

Whether it’s through corporate social responsibility initiatives, or our efforts to find common ground with regulators and consumer groups, we are focused on developing solutions that can help customers end the cycle of debt and build a brighter tomorrow.

Clinton Global Initiative Commitment to Action

The Clinton Global Initiative (CGI) convenes leaders to turn ideas into action. CGI Commitments to Action represent bold new ways that CGI members address global challenges—implemented through new methods of partnership and designed to maximize impact. Commitments can be small or large, global or local. No matter the size or scope, commitments help CGI members translate practical goals into meaningful and measurable results.

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Finding Common Ground

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