Proponents of advance-payservices point to the cycles of poverty and debt that lower-wageworkers can get trapped in when they turn to payday lenders forfinancial help between paychecks. (Photo: Shutterstock)
A Minneapolis startup has joined the pay-advance app field, at a time when workerswho live paycheck to paycheck are finding such apps very appealingand much easier to work with than old-school payday lenders.
Branchwas founded in Los Angeles n 2015 but moved to Minneapolis a yearlater to work with Target and other companies in the Twin Citiesarea. The company received $10 million in venture funding in 2017,and has grown from three employees to 50.
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