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It appears to be like Uber is stepping into the tiny loan company for the motorists

It appears to be like Uber is stepping into the tiny loan company for the motorists

Uber told motorists this week so it’s building an innovative new financial item and asked them about loans. Critics are involved it might be a cash advance system that’s predatory.

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Uber could be considering lending cash straight to drivers, centered on a current study it delivered away to a few of its fleet. Drew Angerer/Getty Images

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Uber appears to be exploring the option of straight offering loans that are financial its motorists.

The ride-hailing giant delivered an in-app message for some motorists this week saying it is “building a fresh economic item” to assist Uber motorists along with their funds “in a period of need,” and asked recipients to fill down a study.

“Have you taken down a tiny loan (of a buck amount below 1,000 USD) within the previous three years?” reads certainly one of four questions. Another asks: “If Uber supplied loans, what amount have you been most very likely to request?” (The choices to respond to range in brackets of “Less than $100,” “Between $100 and $250,” “Between $250 and $500,” and “More than $500.”)

Uber providing economic services is not exactly new — the business piloted an interest-free advance loan program for motorists in Ca and Michigan back 2016. Moreover it currently offers a co-branded charge card with Visa and an Uber Cash electronic wallet for cyclists, and assists rent cars to motorists through third-party partnerships.

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