Best Startup
In late 2021, Ben Sweiry co-founded Dime Alley, a US-based loans connection service providing regular American citizens some financial relief in a post-pandemic world.
Offering a fully online process, Dime Alley’s ambition is to put US citizens through to legitimate and reputable short-term lenders.
Dime Alley’s online application is simple and fast. It takes just five minutes to complete and provides the applicant with an automated, instantaneous response as to whether the service has been able to match the borrower with a lender to suit their personal financial needs.
Key Points
- Ben and Daniel launched Dime Alley in September 2021 after seeing the financial impact that the pandemic was having on regular Americans.
- As a loan connection service, Dime Alley does not charge their customers a broker fee, admin fee or loan request form fee.
- Dime Alley’s services are available across 37 states in the US, including California, Florida and Texas.
- Customers can borrow anywhere between $100 and $35,000, for as little time as 1-month or as long as 60-months.
What services does Dime Alley offer?
Dime Alley is a loans connection service, based in the US, acting as a broker between you and your lender.
They do all the checks on your lender to ensure they’re operating in a legal and legitimate way and don’t even charge their customers a broker fee, admin fee or loan request form fee.
Instead, they charge their lending partners a commission if the customers’ loan enquiry is successful, really putting the customer first.
Dime Alley offers its services across the 37 US states where payday loans are legal, and these include such giants as California, Texas and Florida. Their services are open to anyone, regardless of credit history, so long as they meet the four following criteria:
- You must be over 18 years of age.
- Living in the US permanently.
- You will need to be employed, either part-time or full-time and earning a minimum salary per month.
- You will need to have a stable income (this is usually around $800 depending on the lender), be able to afford monthly repayments, and have a live checking account for the loan to be paid into.
What makes Dime Alley unique?
After 2 years of living in a pandemic-stricken world, it was reported that 12% of Americans earning less than $50,000 per annum reported that they have personally lost a job due to the pandemic, and another 11% reported that a family member has lost a job as a result of the pandemic.
“It was stats like these that inspired us to create Dime Alley”, commented Ben Sweiry, co-founder of Dime Alley. “Ultimately, we saw the impact that the pandemic was having on the lives of hard working Americans, including some of my family and friends, and given our expertise, we saw an opportunity to help lift Americans out of their time of financial hardship,” he added.
Set-up as a purely online service, anyone with a phone, laptop or tablet and access to the internet can use Dime Alley’s services. “We set-up online again due to the pandemic,” Ben remarked. “In-person stores certainly have their uses but society is really going cashless, and so we set-up online to make the process as easy as possible for our borrowers”.
