Excerpt from Fast Company article. Read more from the original article below.
Imagine you have an electric bill due Wednesday, but you don’t get paid until Friday. Then you got a flat tire. You need to fix the car to make it to work for the rest of the week, and you also still need to buy groceries. That bill payment will have to wait, which means you could end up with a penalty, a ding against your credit score, or even with your lights shut off.
You could get a payday loan—a cash advance that comes with a high interest rate and fees—but what if you could simply access the money you’ve earned, outside of that two-week-pay-period dynamic?
That’s the hope of Immediate, a financial health startup meant to benefit hourly wage workers.
Read more from the original story from Fast Company: https://www.fastcompany.com/90468637/this-startup-wants-workers-to-get-access-to-their-wages-before-payday
Matt Pierce, CEO and Founder, Immediate