This seems like just as bad as payday loans to me. In 2013, there were 45.3 million people in the US under the poverty line. [1] The article cited a figure of

This seems like just as bad as payday loans to me. In 2013, there were 45.3 million people in the US under the poverty line. [1] The article cited a figure of $3.4B / yr for payments to the payday loan sharks. This startup charges $3 / week and only services cash flow positive customers. A little math presuming we cover the poor as a group with this 'service': In [1]: 4530000352 Out[1]: 706680000 That's $706 million / year, or about a fifth of the total amount the sharks charge. But we shouldn't stop there. The sharks are still necessary, since this company is only covering the predictable expenses, not the extraordinary but common visits to the emergency room, or to get a car fixed, or any number of less predictable expenses. We still need the loan shark. And this guy is taking 20%. [1] http://www.census.gov/library/publications/2014/demo/p60-249.html http://www.census.gov/library/publications/2014/demo/p60-249...