Say goodbye to payday lenders and the negative loop of overborrowing between paychecks! In this episode we connect with Josh Sanchez, a young entrepreneur that built a business to save those afflicted with low pay and a need for a payday loan to carry them over a hump before next payday. We dig into the world of payday lending, an industry worth $11 BILLION in annual revenues and how even while unemployment is WAY UP, payday lending is only forecasted to shrink by 1.7% in 2021. You'll learn how, and why, Josh Sanchez and his team at Float Me decided to build a low-cost and low-loan model to serve people in need.
We discuss how Float Me has used their customer-centric model with low subscription costs to save their subscribers over $30 million in overdraft fees. If you have always wondered why there isn't another option for for payday loans that are affordable and that won't land those in need in vicious debt cycles -- the answer is now simply that THERE IS! Check out this episode to learn more.
About Josh Sanchez: https://www.linkedin.com/in/joshsanchezbusiness/
Throughout his life, Josh has always enjoyed the entrepreneurial life by recognizing opportunity and creating value. He is a Rio Grande Valley native and a Business Management graduate from the University of the Incarnate Word, who was recently named one of Austin's '25 Under 25' entrepreneurs. His obsession for solutions has motivated him to work endlessly while building and developing others along the way. At present, Josh has the opportunity and responsibility of leading the FloatMe team on its mission to prove people are more credit worthy than deemed.
Companies Mentioned in the Financial Tech Space
FloatMe: https://www.floatme.io/
Onward: https://onward.org/
Earnin: https://www.earnin.com/
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