Startup offers loans to H-1B visa holders, DACA recipients

Startup offers loans to H-1B visa holders, DACA recipients
x

  • 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.
  • The San Francisco-based company, which also has offices in India, ran into some trouble with California regulators in 2016 for issuing 35 loans with interest rates higher than what it was allowed to offer at that time.
  • In the Bay Area, the Self-Help Federal Credit Union, with offices in San Jose, Oakland and Pittsburg, offers a DACA loan with a 15 percent interest rate to cover the cost of a renewal application.
  • 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.


Next Story
Share it
Top
To Top