iCreditWorks Announces Addition of 4 Installment Loan to Broad POS Product Line
The Pay-In-4 installment loan offered through the iCreditWorks platform expands its broad loan product offering to include a short-term, four-payment, 0% APR1 option.
ISELIN, NJ, August 9, 2022 /PRNewswire/ — iCreditWorks, a fast-growing FinTech platform, today announced the addition of Pay-In-4, a 0% APR short-term installment loan to the broad range of point-to-point financing products. available through the platform.* The Pay-In-4 loan is paid by the consumer in four equal installments2— the first payment equal to 25% of the loan is originally due by debit card — and does not require a credit check.
“With Pay-in-4, we now offer a full suite of financing options to consumers through our unparalleled mobile app experience. Our platform presents the best loan offers to applicants across the credit spectrum in seconds,” said Scott YoungCEO of iCreditWorks. “Loan offers now range from a short-term Pay-in-4 loan for as little as $100at 60 months3 standard installment loan of $20,000–all with high approval ratings.”
The appeal of this product for the healthcare consumer is clear: it is a valuable alternative payment option that involves no credit card interest accumulation and a repayment method in just 6 weeks. This is particularly beneficial in the dental industry, where affordability is the main barrier to acceptance of treatment and where the dental provider is often required to extend short-term unsecured “in-office” payment plans to help the patient to accept treatment.
“With the introduction of the Pay-In-4 loan, we continue to focus on bringing responsible-only financing options that allow more consumers to say ‘YES’ to care,” says Cristian Mandachescu, Chief Risk Officer.
Offering only responsible and transparent lending products through the iCreditWorks platform allows consumers to pay for the care they deserve. Pay-In-4 loans will be available from all providers participating in the iCreditWorks program.
*All loans issued by WebBank
1APR stands for annual percentage rate. 2For example, a $400 loan repayable in 4 equal installments, at 0% APR, will have $100 for each payment. 3For example, a $1,000 loan for 24 months with an APR of 15.99% will have a payment of $48.96.
iCreditWorks leverages innovative technology and mobility to deliver an omnichannel platform experience that provides access to a wide range of “point-of-sale” (POS) financing products, empowering consumers to take control of their financing . The first-of-its-kind iCreditWorks native mobile app delivers a simple, seamless, and secure financing experience that redefines the consumer journey.
To learn more about the company, please visit www.icreditworks.com.
SVP – Professional Affairs
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