Borrow or lend money!

Esential uses the tax refunds of low-income individuals (on average $2,000) as a form of collateral, such that loans can be lower risk and thus have lower interest rates.

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Organization History

Our organization was created during the summer of 2016 during a fintech collider competition in Singapore. We won the collider and we are here in Berkeley to implement the lending platform.

Target Audience

The target audience for this project will be low income individuals who take out payday loans, there are approximately 19 million Americans who take out these loans each year.


Our platform allows you to sign up as either a borrower or as a community member, otherwise known as the lender. Community Members will be able to list their information and borrowers will be able to contact them and request loans.