LeapCredit

What LeapCredit does

LeapCredit (legal entity: Leap Credit, LLC) is an Atlanta, Georgia-based online direct lender providing short-term installment loans to U.S. consumers. The company is structured as a multi-state lender with separate licensed entities in seven jurisdictions — Alabama (Leap Credit of Alabama, licensed May 2020), Idaho (Leap Credit of Idaho), Missouri (Leap Credit of Missouri, licensed August 2017), South Carolina (licensed October 2017), Utah (licensed November 2018), and Wisconsin (Leap Credit of Wisconsin) — and operates as a Credit Access Business in Texas as of August 2018. In non-licensed states, LeapCredit refers applicants to a network of third-party approved lenders. Its core product is the Online Installment Loan: principal of $300–$3,500 (varying by state), an 8-month term in most states and 6 months in Texas, simple (non-compounding) interest at state-capped APRs of 546%–795%, no prepayment penalties, and state-regulated late fees. Borrower qualification requires U.S. citizenship, age 18+, verifiable monthly income of at least $1,800 with direct deposit, and an open checking account meeting minimum duration requirements.

The technology stack is a self-serve digital lending platform: a web application portal, a separate customer account management portal, and native iOS and Android mobile applications (launched 2020). The platform is marketed to render automated underwriting decisions in as fast as 6 seconds for qualifying applicants and to disburse funds via ACH within 1–2 business days. Repayment is collected via automated ACH and Remotely Created Checks (RCC), with a customer-facing rewards program that pays borrowers $50 cash per 2,000 on-time-payment points. Customer support is delivered via phone-based inside sales (888-532-7842), email, and the mobile app. The company does not disclose AI/ML capabilities, patents, or proprietary model development beyond automated decisioning.

LeapCredit generates revenue primarily through interest on installment loans, supplemented by state-capped late fees, Credit Access Business fees in Texas, and referral/affiliate compensation from third-party network lenders in non-licensed states. Its target customer is paycheck-to-paycheck working adults (a segment LeapCredit cites as 80% of Americans) and subprime borrowers who lack emergency savings and may not qualify for traditional bank credit, addressing use cases such as medical bills, car repairs, home repairs, debt consolidation, and life events. LeapCredit positions itself as a transparent, state-licensed alternative to payday and title loans. The company is privately held with no disclosed institutional investors, funding rounds, M&A activity, or management team details, and operates with a headcount of 11–50 employees.

Name

LeapCredit

Legal name

Leap Credit, LLC

Website

https://leapcredit.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

LeapCredit is an Atlanta-based online direct lender providing short-term installment loans ($300–$3,500, 6–8 month terms, 546%–795% APR) to paycheck-to-paycheck consumers across seven U.S. states through a state-licensed model with automated underwriting, ACH disbursement, and a mobile app.

Ownership category

akta.pro rank

Product category

Consumer Lending

NAICS

Consumer Lending (522291)

SIC

Personal Credit Institutions (6141), Loan Brokers (6163)

akta.pro industry

PRIMARYFSAKAOAA

Subprime Installment Loans (Non-Prime Personal Loans)

Financial & Insurance/Lending & Consumer Finance/Specialty & Subprime Consumer Lending

SECONDARYFSAKAMAI

Small-Dollar Short-Term Installment Loans (Non-payday)

Financial & Insurance/Lending & Consumer Finance/Payday Loans & Short-Term Credit

Keywords

• Online installment loans
• Consumer lending
• Short-term loans
• Direct lender
• Personal loans

Headquarters

HQ city

Atlanta

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Short-Term Installment Loan Interest: LeapCredit generates revenue primarily through interest charged on short-term installment loans. Loans are offered with APRs ranging from approximately 546% to 795% depending on the state and the borrower's creditworthiness. Loan terms and amounts vary by state (e.g., Wisconsin: $300–$3,000; Alabama: $2,000–$3,500; Texas: $400–$2,500; Idaho: $400–$3,500; Missouri: $500–$3,000). The company charges simple (non-compounding) interest. In Texas, LeapCredit operates as a Credit Access Business (CAB), collecting fees for servicing loans originated by third-party lenders.
2. Credit Access Business (CAB) Fees in Texas: In Texas, where LeapCredit operates as a Credit Access Business rather than a direct lender, the company earns fees for facilitating connections between borrowers and third-party lenders and for servicing those loans. Early payoff of CAB-serviced loans may result in LeapCredit waiving part of the CAB fee.
3. Late Payment Fees: LeapCredit charges late payment fees when borrowers miss scheduled payments. Fee amounts are governed by state regulations and vary by state (e.g., South Carolina: 5% of missed payment up to $18.50 if not paid within 10 days; Wisconsin: lesser of $10 or 5% if not paid within 10 days; Missouri: greater of $15 or 5% up to $50 if not paid within 15 days; Utah: greater of $30 or 5% of the payment due; Texas: 5% if not paid within 10 days).
4. Referral/Network Fees: For residents of states where LeapCredit is not a licensed direct lender, the company connects interested persons with lenders or lending partners from its network of approved lenders, and may receive compensation from those lenders and lending partners.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

LeapCredit provides short-term online installment loans ranging from $300 to $3,500 (state-dependent) to U.S. consumers who need quick access to funds for unexpected expenses. The loans are repaid in fixed monthly installments over terms of up to 8 months with simple (non-compounding) interest and APRs ranging from approximately 546% to 795% depending on the state and borrower creditworthiness. The company is a state-licensed direct lender in six states (Alabama, Idaho, Missouri, South Carolina, Utah, Wisconsin), operates as a Credit Access Business in Texas, and refers applicants to a network of third-party lenders in other states.

Product overview

LeapCredit operates as a state-licensed direct lender offering short-term installment loans primarily to employed individuals facing unexpected financial needs. The core product is the Online Installment Loan, which borrowers apply for through the Online Application Portal and manage via the Customer Portal or Mobile App. The company services loans directly in most states (Alabama, Idaho, Missouri, South Carolina, Utah, Wisconsin) while operating as a Credit Access Business (CAB) in Texas, where they connect borrowers with third-party lenders. The product portfolio includes loan origination and servicing across web and mobile platforms, with an integrated rewards program to encourage on-time payments.

Differentiator

Problem solved

Functional benefit

Products and services

• LeapCredit Online Installment Loans Short-term installment loans ranging from $300 to $3,500 (state-dependent), repayable in fixed monthly installments over terms of up to 8 months with simple (non-compounding) interest and APRs ranging from 546% to 795% depending on the state and borrower creditworthiness. Designed for employed U.S. consumers with verifiable income (minimum $1,800/month) who need quick access to funds for unexpected expenses such as medical emergencies, home repairs, car repairs, or life events. State-licensed direct lending in Alabama, Idaho, Missouri, South Carolina, Utah, and Wisconsin; Texas CAB model; network referrals in other states.
• Leap Credit Mobile App Native mobile application for iOS (App Store) and Android (Google Play) that allows LeapCredit borrowers to manage their loans on the go 24/7. Features include Quick Pay, balance inquiry, payment scheduling, payoff balance requests, and contact with customer support. Available as a standalone download (App ID: official.leapcredit.app).

Quantifiable outcome

• Approval decisions in as fast as 6 seconds
• +2 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Market position

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/leapcredit

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LeapCredit