BMG Money
- Company typePrivate
- Founded2014
- HeadquartersMiami, United States
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
BMG Money firmographics
Firmographics- Name
- BMG Money
- Legal name
- BMG LoansAtWork, Inc.
- Website
- https://bmgmoney.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Ownership category
- akta.pro rank
BMG Money industry classification
Industry- Product category
- Consumer Lending
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Employer-Sponsored / Payroll-Linked Personal Loans (Unsecured Installment) (FSAKAAAM)
Keywords
Where BMG Money is headquartered
LocationHeadquarters
- HQ city
- Miami
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
BMG Money business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Loan Interest and Origination Fees: BMG Money generates revenue primarily through interest charged on loans (APRs ranging 19.99%-35.99%) and one-time origination fees of up to 5% of the loan amount. Loans are issued by WebBank through the platform, with BMG acting as the loan servicer and program administrator.
- Payroll Allotment Processing: Revenue generated from managing the payroll deduction process for employer partners, integrating with various payroll systems to facilitate loan repayments through employee allotments.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Standard Personal Loan - $500 to $12,000 with 19.99%-35.99% APR |
| Other | Monthly | LoansAtWork Employer Program - Zero cost to employers |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels6 records
BMG Money product offering
Product offeringCore offering
BMG Money provides employment-based personal loans ranging from $500 to $12,000 with APRs of 19.99%-35.99%, repaid through payroll deduction. The company operates the LoansAtWork program through employer partnerships and offers specialized loan products for federal employees, postal workers, and retirees (military and federal). Loans are issued by WebBank with BMG acting as servicer and program administrator, serving over 200,000 customers across 42 states and D.C.
Product overview
BMG Money is a financial services company offering emergency loans and financial wellness solutions for employees and retirees. The core product portfolio centers on LoansAtWork, an employment-based lending platform that provides personal loans ranging from $500-$12,000 with terms from 6-48 months and APRs from 19.99%-35.99%. Specialized variants include LoansForFeds for federal employees, Loans for Postal Employees, Loans for Retired Federal Employees, and Loans for Retired Military Employees. The platform integrates payroll deduction for seamless repayment and offers instant funding options. Supporting products include a Referral Program for customer incentives, Balance Financial Fitness counseling services, and the CFPB Credit Education Program. A strategic partnership with Sqwire extends financial wellness tools to employer partners. All loans are facilitated through WebBank, with operations across 42 states plus D.C.
Differentiator
Problem solved
Functional benefit
Brands
- LoansAtWork: Employment-based lending program offering personal loans repaid through payroll deduction for employees of partner employers.
- LoansForFeds
- LoansForFeds Program
- LoansForRetirees
- Postal Loans
Quantifiable outcome
- 70% of Americans are not financially healthy while only 28% of employers offer financial wellness programs - BMG addresses this gap
- +2 more outcomes
Companies that use BMG Money
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
BMG Money technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
BMG Money partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered major and supporting.
- SqwiremajorStrategic partnership with Sqwire, a financial wellness platform, integrates their platform with BMG Money's LoansAtWork program and WebBank lending services. The partnership addresses the fact that 70% of Americans are not financially healthy while filling a gap where only 28% of employers offer financial wellness programs. The alliance aims to reduce financial stress-driven productivity losses.
- Firstnet (Wesbanco)supportingFirstnet savings account (Wesbanco) is used for payroll allotment processing - a savings account is opened for borrowers to facilitate loan repayment through payroll deductions.
- Balance Financial FitnesssupportingFree access to Balance Financial Fitness program for all customers - includes counseling, debt management, workshops, webinars, and online tools for financial wellness.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
BMG Money competitors and assessment
Company assessmentDirect peers
- Kashable: Kashable is a direct competitor offering employment-based personal loans repaid via payroll deduction to employees of partner employers. It targets a similar underserved borrower base with employer-sponsored distribution and competes head-to-head with BMG's LoansAtWork program.
- ZayZoon: ZayZoon offers earned wage access and employer-sponsored financial wellness tools integrated with payroll systems. While its core product is wage advance rather than installment loans, it competes for the same employer-channel distribution and employee financial wellness budget.
- FinFit: FinFit provides employer-sponsored financial wellness programs including small-dollar loans, budgeting tools, and credit-building resources. It competes directly with BMG Money for HR/benefits department partnerships as a voluntary employee benefit.
- TrueConnect (FinWise Bank): TrueConnect is a direct peer providing employment-based small-dollar loans repaid through payroll deduction to employees of participating employers. Its employer-sponsored model and federal employee focus directly overlap with BMG Money's LoansAtWork and LoansForFeds products.
Emerging players
- Payactiv: Payactiv is an earned wage access platform serving employer clients with payroll-integrated financial tools. While focused on wage access, it competes in the same employer-channel and serves overlapping employee segments, including federal and hourly workers.
- Even (formerly Even Financial): Even is a financial wellness platform offering on-demand pay, budgeting, and savings tools integrated with employer payroll. It targets the same employer-sponsored distribution model and serves similar employee financial stress pain points as BMG Money.
- Possible Finance: Possible Finance offers small-dollar installment loans to underserved borrowers as an alternative to payday lenders. While it focuses on direct-to-consumer rather than employer-sponsored distribution, it competes for the same underserved credit segment that BMG Money serves.
Broad incumbents
- MoneyLion: MoneyLion is a broader consumer fintech offering personal loans, credit-building, and financial wellness tools. While not employer-channel-focused, it competes for the same underserved borrowers with installment loan products and financial wellness features.
- Dave: Dave is a consumer fintech offering small-dollar advances and budgeting tools targeting paycheck-to-paycheck workers. While its delivery model is direct-to-consumer mobile app rather than employer-sponsored, it competes for the same financially stressed borrower demographic.
- LendingClub: LendingClub is a large online personal loan marketplace serving consumer and small business borrowers. While it uses traditional credit scoring rather than employment-based underwriting, it competes for unsecured personal loan demand from borrowers who may also qualify for BMG's products.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
BMG Money social profiles
Digital presenceBMG Money compliance and trust
Trust signalCompliance6 records
BMG Money financial estimates
Financial estimateRevenue estimate
Valuation estimate
BMG Money leadership team
Management profileNumber of profiles
Profiles2 records
BMG Money subsidiaries and ownership
Company hierarchySubsidiaries1 record
BMG Money funding detail
Funding detailFunding overview
Funding rounds1 record
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
BMG Money 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 BMG Money
What does BMG Money do?
BMG Money provides employment-based personal loans ranging from $500 to $12,000 with APRs of 19.99%-35.99%, repaid through payroll deduction. The company operates the LoansAtWork program through employer partnerships and offers specialized loan products for federal employees, postal workers, and retirees (military and federal). Loans are issued by WebBank with BMG acting as servicer and program administrator, serving over 200,000 customers across 42 states and D.C.
Is BMG Money a public or private company?
BMG Money is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was BMG Money founded?
BMG Money was founded in 2014. It employs 51 to 100 people.
Where is BMG Money based?
BMG Money is headquartered in Miami, United States, in the North America region.
How does BMG Money make money?
Two revenue lines are on record. Loan Interest and Origination Fees are the primary driver. The others are payroll Allotment Processing.
Who are BMG Money's main competitors?
Direct peers on record are Kashable, ZayZoon, FinFit and TrueConnect (FinWise Bank). Emerging players are Payactiv, Even (formerly Even Financial) and Possible Finance. Broad incumbents are MoneyLion, Dave and LendingClub.
Does BMG Money have an API?
No public API is recorded for BMG Money.
What industry is BMG Money in?
BMG Money's product category is Consumer Lending. Its primary akta.pro industry code is FSAKAAAM, Employer-Sponsored / Payroll-Linked Personal Loans (Unsecured Installment). Its SIC code is 6141.