Startup offers loans to H-1B visa holders, DACA recipients
10 March 2019 9:00 AM GMT
Originally focused on providing loans to foreign students and H-1B workers, Stilt?s clients now include DACA recipients and other immigrants.
- Startup offers loans to H-1B visa holders, DACA recipients Rohit Mittal knew he’d need financial help to pursue a master’s degree at Columbia University.
- Inspired by that experience, Mittal and Priyank Singh, who also came to the United States as a student, co-founded Stilt , a startup offering personal loans to immigrants.
- Though that’s about twice the rate of a federal graduate student loan, Mittal said it’s lower than other options available to immigrants without credit history or permanent resident status.
- Nationally, the Latino Credit Union, which focuses on immigrants and low-income borrowers, offers a secured personal loan at the same rate to those with at least one year of credit history.
- Then, they need to get a U.S. bank account and buildup a credit history.
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