ThriveCash

The company's business model centers on underwriting based on a student's future earning potential, as evidenced by a formal offer letter, rather than traditional credit scores. This allows ThriveCash to serve a client base that includes undergraduate, graduate, and international students who might otherwise be unable to secure funds. The service is delivered through a mobile application where students can apply for a loan, and upon approval, receive funds. These funds can be used for a variety of expenses that traditional student loans may not cover, such as security deposits, moving costs, or even paying off credit card debt. Revenue is generated through interest on the funds provided.

The core product is a line of credit accessible via the ThriveCash app. A key feature is the deferred repayment schedule; students are not required to make any payments until after they begin their new job and receive their first paycheck. Repayment can then be made in a lump sum or through monthly installments over a period of up to 12 months. The platform allows students to borrow up to $25,000, and they only pay interest on the amount they actually withdraw. This model provides a financial bridge for students during the transitional period between education and employment, without the need for a co-signer or an existing credit history. According to PitchBook, the company ceased operations as of June 14, 2022.