Startup Profile: Dime Alley

Dime Alley is an online loans connection service, offering loan services in the United States, helping customers to obtain the financial support that they require.

Customers can apply to borrow using Dime Alley’s fully-online, quick and easy service, for an amount as little as $100 or as high at $35,000. Dime Alley ensure they connect their customers to the lender who is most likely to approve their loan, based on factors such as duration of the loan and amount being requested, income and credit history.

 

Company: Dime Alley

Website: https://dimealley.com

What They Do: A loans connection service that matches a loan enquiry with over 8,000 data points – matching customers with the best loan product for them across the United States.

 

As a loan connection service, Dime Alley do not charge their customers a broker fee, admin fee or loan request form fee. Instead, they charge our lending partners a commission if the customers’ loan enquiry is successful.

 

dime alley logo

 

Dime Alley was founded in 2021 by business partners, Ben and Daniel, who, after almost two years of living through the Corona pandemic with the rest of the world, saw the impact that it was having on the financial lives of ordinary Americans.

“We set-up Dime Alley as a sort of response to the financial situation that so many Americans found themselves in during the pandemic,” explained Ben, co-founder of Dime Alley. “So many of my friends and family were finding themselves in a difficult financial situation after losing jobs and I wanted to do something to help them find some sort of financial relief, and that’s how we came up with Dime Alley”.

Daniel, who has over 10 years of experience working in the consumer finance industry in the US and the UK, added, “of course, loans are not a new concept – they’ve been a solid market in the US for years! However, we wanted to introduce a service in the post-pandemic world that provides our customers with the quickest, easiest and most hassle-free service out there.”

Daniel went on, “as a loans connection service, we want to connect our customers with a financial plan that will put their needs first, not the needs of the lender, and offer a service that aligns with our customers’ application, taking into account things like their income and credit status, as well as the amount they apply to borrow and how long for.”

 

dime alley homepage

 

Dime Alley’s services are open to people with all sorts of credit backgrounds and financial history, and even better, applying for a loan with Dime Alley will have no implication whatsoever on a customer’s credit score. Whether you need a product that will simply tide you over until your next payday, an emergency loan to help with an unexpected bill or an installment loan, Dime Alley will match you with a lender to suit your needs.

Not every American citizen can apply for a short-term or payday loan with Dime Alley however, as the legal status of these products varies by state. Currently, these products are available in 37 states across the US, including California, Florida and Texas, but some states have banned such products, including as New York and Massachusetts.