Pathward®, N.A. is adding a new line of credit to open access for credit challenged consumers. While credit options are abundant for some consumers, others find themselves with limited opportunities to access credit. The new Pathward Line of Credit can provide credit solutions to an underserved population in a responsible way.

In addition to the appeal of credit access, consumers really find value in the flexibility of the line of credit because they can move the funds to their core spending account. Pathward has engaged fintech partner, Propel Holdings Inc. to service the loans through its lending as a service (LaaS) platform. Propel is an innovative financial technology company (fintech) dedicated to credit inclusion, and by leveraging the fintech’s experience and AI-powered, proprietary platform, the program enables Pathward to provide consumers access to credit while limiting credit risk.

Powered by their proprietary technology, Propel manages customer service and outreach, applications, collections and more through its online platform. The Pathward Line of Credit is a pre-approved option offered to consumers through Pathward’s existing partner distribution channels. This model enables existing partners to connect their customers to credit access they might not otherwise have.

Borrowers only pay interest on the drawn amount when they sign up for Pathward Line of Credit, and there are zero fees affiliated with the product.