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Micro Line of Credit Product

Our proprietary and market-leading platform allows your customers to turn their debit cards or DDA accounts into dynamic, real-time financial tools.

The average life of a pre-paid card without direct deposit is three to four months. But with a direct deposit bank option, that lifespan quadruples to 10-12 months. The MLOC program may increase the lifespan of the card even further, providing your institution an additional opportunity to build loyalty, increase retention rates, drive card usage and generate revenue.

You’ll benefit from the MLOC program in a number of ways, including:

  • The ability to build capital through fee income
  • Improved offering to program managers enabling financial institutions to attract new and retain existing partners
  • Increased card retention rates, consumer loyalty and brand awareness
  • Easy and hassle-free integration with your existing core systems and card processors
  • Flexible commercial model allowing for limited exposure to the receivables portfolio

And your customers will benefit from a convenient, affordable and responsible product. The MLOC is:

  • Convenient—accessible 24 hours a day, 7 days a week, via state-of-the-art Web and IVR systems
  • Simple Fee Structure—fixed flat fee based on dollars borrowed with no late or NSF fees. Customers can get a line of credit in increments of $20 up to the credit limit established by the financial institution
  • Simple—funds are immediately available upon approval and repayment is automatic from the next direct deposit
  • Friendly—lower cost as compared to fees associated with other short-term credit products ( see Fee Comparison Chart)
  • Responsible—helps customers build or restore credit history as their borrowing performance is reported to all three major credit bureaus.