VIVA’s mission is to build an inclusive financial system and financially empower working Americans. One of the biggest challenges in the financial system is that people who would benefit the most from affordable credit often have the hardest time obtaining it. When you compound this with the wide-spread problem of low financial literacy, it can lead to dangerous cycles of debt—like over-using credit cards, or even turning to predatory lenders like payday loans or title pawn.
In order to combat these issues, VIVA offers access to low-cost loans and financial education as an employee benefit. Our difference as a lender is that we underwrite our loans based on employment data instead of credit score, which allows us to offer affordable rates to more people and expand access to affordable credit. Our loans are serviced through automatic payroll deduction, so repayment is as effortless as possible—and even though we don’t underwrite based on credit score, employees can still build their credit through the repayment of a VIVA loan.
VIVA’s financial education is geared toward managing the financial aspects of daily life and covers key topics including becoming a homeowner, using a checking account, and developing savings habits. Employees can access these resources through their Financial Wellness Dashboard on our website (www.viva-finance.com). In addition to financial education, VIVA also offers a toll-free hotline for immediate financial counseling.
VIVA’s benefits are designed to alleviate financial stress and give working Americans the tools to make more empowered financial decisions. By offering VIVA’s benefits, an employer can help their employees maintain better financial health, which can materially impact a business by reducing employee turnover, decreasing absenteeism, and increasing focus and productivity.
By partnering with leading-edge employers, VIVA is able to pursue its mission of financial inclusion and empowerment and improve the financial well-being of working Americans.
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