INDIANAPOLIS, IND — “Payback what you borrow,” The Halo App, a member of the Indy Chamber announced on Wednesday a rapid response of $1 million in loans to residents financially affected by COVID-19, calling on local donors to ensure that half of these loans are backed with zero-fees.
The Halo App is a private, peer lending community that connects people for loans $100 to $1,000. The zero-fee loans for food, bills, and essentials will help local residents during this national crisis. There are no application fees or credit requirements; however, The Halo App asks that applicants schedule a time for a welcome call with one of their team members.
COVID-19 threatens the financial security of those who already live paycheck to paycheck. Many Indiana residents may just need a little money to tide them over until more permanent solutions are created.
“We don’t want people to panic,” said Taylor Simpson, The Halo App’s Chief Executive Officer. “We already have a community of Backers who are ready to back more loans. Indiana has resources like The Halo App available for its residents. We created this app so that people could support others in times of personal and financial crisis.” This relief program can save some of the 1,000,000 at-risk residents in Indiana by providing financial resources that will be incredibly helpful during this tough time.
This new lending community makes borrowing money simple and affordable for people by connecting them with “Backers,” or people who are willing to lend money to those who need it. The Halo App’s relaunch campaign is an obvious sign that the company intends to remain a people-first company. It is dedicated to transforming consumers' ideas of how to best use their money.
To learn more, please visit https://www.thehaloapp.com/
About The Halo App
The Halo App is a private, peer lending community that connects people for loans under $1k.
Reimagined in 2018, and launched to a private community in 2019, The Halo App uses proprietary technology and alternative risk scoring models to evaluate the financial health and trustworthiness of users to provide a safe environment where Backing and Borrowing can exist. Through The Halo App platform, thousands of people have discovered a new form of financial freedom. To learn more, please visit https://www.thehaloapp.com
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