Promise Financial Launches The First Marketplace Lending Platform Focused Exclusively On Wedding Finance

HOBOKEN, N.J., June 24, 2015 /PRNewswire/ -- Promise Financial, the first marketplace lending platform exclusively focused on the underserved market for wedding finance, announced its launch today.  The financial technology company has created a leading-edge underwriting and technology platform to seamlessly connect individuals with consumer-friendly financing from a range of investors, lowering the cost of borrowing and improving the way couples plan and pay for weddings.

In the U.S., there are approximately 2,000,000 weddings annually with an average cost of $30,000, yet prior to Promise Financial a dedicated financing option for weddings did not exist and many couples used expensive credit card financing to cover wedding expenses.  Promise Financial is addressing that need with a marketplace lending platform that provides access to borrower-friendly loans which allow individuals to pay for weddings over time, with low rates, transparent pricing and no hidden fees. The platform offers a convenient online process, which underwrites applicants on a fully automated basis and delivers loan offers in just a few minutes.

Promise Financial was founded in June 2014 by Joshua Jersey and Bradley Vanderstarren, whose backgrounds include advising and investing in companies in the financial services industry.  "The difficulty many couples have with the financial aspect of their weddings demanded a better option.  When so many of the other large purchases we make allow us the flexibility to pay over time, the absence of a dedicated financing option for weddings was surprising – and unacceptable," said Joshua Jersey, CEO.

Loans through Promise Financial are available in over 40 states, have a 3-year term, range from $3,000 to $35,000, and are funded directly to the borrower's bank account in just 2 to 3 business days.  In addition to offering access to innovative credit products, the company provides extensive content related to the financial aspect of weddings, including tools for wedding planning and budgeting and the first blog dedicated to wedding finance.

Promise Financial's mission is to improve the way couples pay for their weddings. "We're creating a new kind of financial technology company," explains Bradley Vanderstarren, President & CFO. "We see a market where couples are financing weddings with expensive credit cards and we're innovating by introducing borrower-friendly credit products to ensure couples can pay over time while proactively planning their financial future."

Promise Financial is based in Hoboken, NJ and has raised over $4 million in funding to date.  For more information, please visit www.promisefinancial.com.

About Promise Financial

Promise Financial is the only marketplace lending platform focused exclusively on wedding finance.  The company's mission to improve the way couples pay for weddings by offering a range of innovative finance products, tools, and advice.  Loans through Promise Financial are available in over 40 states, have a 3-year term, range from $3,000 to $35,000, and are funded in 2 to 3 business days.  Promise Financial was founded in June 2014 by Joshua Jersey and Bradley Vanderstarren and is based in Hoboken, NJ. Additional information is available at www.promisefinancial.com.  

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SOURCE Promise Financial

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https://www.promisefinancial.com