Zirtue Founder Discusses Bill Pay Loans App on WFAA Daybreak

Zirtue's Bill Pay Loans Feature

• 💡 Dennis Kale, CEO and co-founder of Zirtue, explains the inspiration behind their new bill pay loans feature.
• 🎯 The feature was developed after observing that 70% of loans processed on Zirtue were for paying specific bills, indicating a strong need for this functionality.
• 🚀 Zirtue has expanded its biller network to over 40,000, allowing users to borrow money to pay virtually any national, regional, or local biller.

How the Bill Pay Loans Feature Works

• 🛠️ Users select a biller on Zirtue.com, attach it to a loan request, and send it to a friend or family member.
• 🤝 Friends and family are more inclined to approve loans when they know the funds are going directly to a biller, not the individual.
• ✅ Zirtue handles the transaction, sending the approved loan amount directly to the biller.

Addressing Financial Challenges

• 📈 The app aims to help individuals manage expenses during challenging economic times, especially with 60% of Americans living paycheck to paycheck.
• ⚠️ It provides a financial lifeline for unexpected expenses, preventing difficult choices between essential bills and necessities like food or rent.
• 🛡️ Zirtue adds transparency to peer-to-peer lending, helping users avoid collections, negative credit impacts, or service interruptions.

Unique Aspects of Zirtue

• 💬 Zirtue acknowledges the risks of lending between friends and family but provides a transparent platform for such transactions.
• ⚖️ Users can set their own terms, including no interest and repayment periods of three, six, or even two years.
• 🎁 A unique feature allows lenders the option to forgive the loan entirely.
• 🔒 All Zirtue loans are insured by True Stage Insurance, covering loan balances in cases of job loss or disability.