Dime Alley is a US-based, fully-online service that allows users to find loans and to obtain the financial support that they need.
Customers can borrow money from $100 to $35,000 entirely online. Dime Alley connects borrowers to the lender most likely to approve this loan at no cost to borrowers. Their commissions are made by charinge their lending partners a commission fee.
Dime Alley is a no fees loans connection service that uses its 8,000 data points to match borrowers with the best loan product for them.
This is a quick, easy process, as Dime Alley finds each customer the perfect lender based on loan duration, loan amount, borrower income, and borrower credit history.
Dime Alley is able to stay fee-free because they charge lenders a commission if the loan enquiry is successful.
In 2021, Dime Alley was founded by business partners Ben and Daniel. They were inspired to create a loan service after seeing the devastating impact of the recent pandemic and global recession on the lives of normal Americans.
Co-founder Ben explains, “We set up Dime Alley to help with the position that so many Americans found themselves in after Covid. So many of my friends and families had been made redundant and needed a little bit of help to get back up on their feet. We wanted to be able to provide some financial relief for everyday Americans, and that’s how we came up with Dime Alley.”
The legal status of short-term and payday loans varies by state, so not every American citizen can apply for them through Dime Alley. However, they are available in 37 states including those looking for loans in California, Florida and Texas.
Co-founder Daniel has over a decade’s experience in the US and UK consumer finance industries. He added, “The US loan market has been around for years, but we wanted to give people the quickest, easiest, most hassle-free service available, whilst protecting them for high cost lending and loan sharking.”
Dime Alley’s services are available to people with all sorts of credit backgrounds and financial histories, and applying for a loan through Dime Alley will have no impact on customers’ credit scores.
Daniel says, “We want to match our customers to loan products that prioritise their needs, instead of putting the lender’s needs first.”
The service Dime Alley provides is intended to help average Americans to find anything from payday loans, emergency loans or installment loans, whether they need a hundred dollars or tens of thousands.