Backed is the only online lending platform that enables borrowers to add a co-signer (Backer) to their loan application to ensure a lower interest rate. The platform offers personal loans for diverse purposes ranging from renter’s loans and career investments to relocation and travel loans. It appeals to all borrower demographics with the reduced risk of default. With the help of an innovative loan underwriting mechanism, borrowers can reduce the interest rate on their loans up to 41%.
Backed offers 1, 2, and 3-year personal loans for diverse purposes and all borrower demographics. The loans range from $3,000 – $25,000 at APRs starting as low as 2.9%.