Fig Loans
Fig Loans (Fig Tech Inc.) is a Texas-based fintech founded in 2015 that provides credit-building installment loans as an alternative to payday lending, serving working-class Americans with limited credit access across five U.S. states.
- Company typePrivate
- Founded2015
- HeadquartersHouston, United States
- Headcount1–10
- GTM typeB2C
- OfferingServices
What Fig Loans does
Fig Loans (operating as Fig Tech Inc.) is a Texas-based fintech founded in 2015 that provides installment loans as an alternative to payday lending for working-class Americans with limited credit access. Its two core products are a Personal Loan — a multi-month installment loan carrying roughly 190% APR — and a Credit Builder Loan, a 12-month, $300 product whose principal is held in trust and whose on-time payments report to all three major credit bureaus. The company serves retail consumers across five licensed states (Texas, Missouri, Ohio, Utah, and Florida), with operational headquarters in Sugar Land, Texas and a mailing presence in Beaverton, Oregon.
The platform is built around an online, direct-to-consumer origination flow that uses customer bank login data for bank verification and a soft credit inquiry (no hard pull) for underwriting. Approved loans are funded the same or next business day in 99% of cases. There is no native mobile app; distribution runs through figloans.com and a network of referral partnerships with community organizations and credit unions — United Way THRIVE, Family Services of Greater Houston, LISC Financial Opportunity Centers, Bank On Houston, Foundation Communities, Operation HOPE, Promise Credit Union, St. Louis Community Credit Union, 1st Financial Federal Credit Union, and the Urban League of Metropolitan St. Louis — which serve as the primary customer acquisition channel.
Revenue is generated almost entirely from interest charges on installment loans (e.g., a $300 loan over four months produces $106.86 monthly payments and $427.44 total repayment). The business is operated by a small team of 1–10 employees and has raised approximately $25.8 million cumulatively across a Right Side Capital Management check (2016), a Techstars-backed seed (2016), a $2.6 million Series 1 (2018, Access Ventures-led), and a $23 million Upper90 facility (2020). The company is a certified B Corporation (2018, 2019), positioning its brand explicitly against the predatory small-dollar credit it aims to displace.
Fig Loans firmographics
Firmographics- Name
- Fig Loans
- Legal name
- Fig Tech Inc.
- Website
- https://figloans.com
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Fig Loans (Fig Tech Inc.) is a Texas-based fintech founded in 2015 that provides credit-building installment loans as an alternative to payday lending, serving working-class Americans with limited credit access across five U.S. states.
- Ownership category
- akta.pro rank
Fig Loans industry classification
Industry- Product category
- Consumer Installment Lending
- NAICS
- Consumer Lending (522291)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Emergency & Short-Term Installment Personal Loans (Unsecured) (FSAKAAAH)
- akta.pro secondary industry
- Small-Dollar Short-Term Installment Loans (Non-payday) (FSAKAMAI)
Keywords
Where Fig Loans is headquartered
LocationHeadquarters
- HQ city
- Houston
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Fig Loans business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Others
Revenue model
- Installment Loan Interest: Fig Loans earns revenue through interest charged on installment loans. The company offers personal loans with APR of 190%, significantly lower than typical payday loans at 391%. Loans are repaid in fixed monthly payments over an agreed term.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | $300 loan over 4 months |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
Fig Loans product offering
Product offeringCore offering
Fig Loans (Fig Tech Inc.) originates online installment loans and 12-month credit-builder loans to working-class US consumers as a responsible alternative to payday loans. The core Personal Loan carries approximately 190% APR with fixed monthly payments over an agreed term, while the Credit Builder Loan helps thin-file borrowers establish credit through small monthly payments with funds held in trust. Both products are reported to the three major US credit bureaus, funded same- or next-day via a fully digital application that uses bank-account verification rather than hard credit pulls.
Product overview
Fig Loans is a financial technology company offering credit-building installment loan products as alternatives to predatory payday loans. The core product portfolio consists of two main offerings: Personal Loans (installment loans) and Credit Builder Loans, available across five states (Texas, Missouri, Ohio, Utah, and Florida). The Personal Loan provides borrowers with fixed monthly payments over a set repayment term at approximately 190% APR, while the Credit Builder Loan allows customers to make small monthly payments over 12 months to establish credit history. Both products are reported to the three major credit bureaus to help borrowers build credit. The company operates state-specific versions of its installment loan product in each of its five lending states.
Differentiator
Problem solved
Functional benefit
Products and services
- Fig Loans Personal Loan (Installment Loan) Credit-building installment loan for individual working-class US consumers, with fixed monthly payments modeled after a home loan at approximately 190% APR, no hidden or late fees, same- or next-day funding, and on-time payment reporting to all three major credit bureaus; available in Texas, Missouri, Ohio, Utah, and Florida.
- Fig Credit Builder Loan 12-month credit-builder loan for individual consumers who want to establish or improve a credit history by making small monthly payments, with funds held in trust and released upon successful completion while payments are reported to the credit bureaus.
Quantifiable outcome
- 190% APR vs 391% for payday loans, saving customers over $230 on a $300 loan over 4 months
- +2 more outcomes
Companies that use Fig Loans
Customer profileSegments3 records
Ideal customer profiles3 records
Fig Loans technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Fig Loans partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- Family Services of Greater Houston (Family Houston)coreNonprofit partner that helped pilot the Fig Loans product, fine-tuning language, features and processes based on experience working with customers.
- United Way THRIVE (Houston)coreCollaborative of employers, community colleges, financial institutions and government agencies focused on helping families reach financial independence. Worked with Fig to define and pilot the original Fig Loan product in 2015.
- Promise Credit Union (PCU)minorPartner offering auto loans up to $35,000 at rates as low as 2.50% APR, Payroll Advance loans, and matched savings accounts for Fig customers seeking alternatives.
- LISC Financial Opportunity CentersminorOffers LISC Twin Accounts credit builder program that can build credit up to 40 points and matches each payment. Participants receive 12-month, $300 loan at 9% APR.
- Bank On HoustonminorProgram helping Houstonians get customer-friendly checking or savings accounts, including 'Second Chance' accounts for those rebuilding banking history.
- Foundation CommunitiesminorNonprofit offering free tax preparation to individuals with income under $60,000, including ITIN assistance for undocumented individuals.
- Red Dough Money CenterminorMissouri partner offering Helping Hand Installment Loans from $100-$1,000 as alternative to payday/pawn loans, plus low-cost check cashing and bill-pay services.
- St Louis Community Credit UnionminorOffers Freedom Line of Credit up to $500 with no credit check, with portion of advance placed in mandatory savings account.
- 1st Financial Federal Credit UnionminorCDFI offering Credit Builder Loans where borrowed funds are held in savings account while borrower makes monthly payments to build credit.
- Urban League of Metropolitan St. LouisminorOffers money management education and access to banking and loan opportunities as part of economic empowerment programs.
- Operation HOPE at STL Treasurer's Office of Financial EmpowermentminorProvides financial education, Credit and Money Management Workshops, and one-on-one credit counseling free of charge.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
Fig Loans competitors and assessment
Company assessmentMarket position
Strengths4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Fig Loans social profiles
Digital presenceFig Loans compliance and trust
Trust signalCompliance3 records
Fig Loans financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fig Loans leadership team
Management profileNumber of profiles
Profiles2 records
Fig Loans funding detail
Funding detailFunding overview
Funding rounds6 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fig Loans M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fig Loans
What does Fig Loans do?
Fig Loans (Fig Tech Inc.) originates online installment loans and 12-month credit-builder loans to working-class US consumers as a responsible alternative to payday loans. The core Personal Loan carries approximately 190% APR with fixed monthly payments over an agreed term, while the Credit Builder Loan helps thin-file borrowers establish credit through small monthly payments with funds held in trust. Both products are reported to the three major US credit bureaus, funded same- or next-day via a fully digital application that uses bank-account verification rather than hard credit pulls.
Is Fig Loans a public or private company?
Fig Loans is a private company. It is classified as venture growth investor backed and is currently operating.
When was Fig Loans founded?
Fig Loans was founded in 2015. It employs 1 to 10 people.
Where is Fig Loans based?
Fig Loans is headquartered in Houston, United States, in the North America region.
How does Fig Loans make money?
One revenue line is on record: installment Loan Interest.
Does Fig Loans have an API?
No public API is recorded for Fig Loans.
What industry is Fig Loans in?
Fig Loans's product category is Consumer Installment Lending. Its primary akta.pro industry code is FSAKAAAH, Emergency & Short-Term Installment Personal Loans (Unsecured), with a secondary code of FSAKAMAI, Small-Dollar Short-Term Installment Loans (Non-payday). Its NAICS code is 522291 and its SIC code is 6141.