Innovative credit deliverer BillFloat offers several types of financial products. BillFloat’s SmartPay product offers flexible payment plans for smartphones, while its SmartLine offers a personal line of credit for access to cash.

The company has been earning more and more recognition in the press for its work. In early August 2013, the Los Angeles Business Journal featured BillFloat in a story on emerging solutions for borrowers presently underserved by financial institutions.

The story focused on a startup that was pioneering a new credit rating that evaluated more data than the FICO score, today’s dominant rating. BillFloat’s CEO Ryan Gilbert provided context from his point of view of running a business that focuses on consumers who might have difficulty acquiring credit.

Mr. Gilbert spoke about the potential for new credit models eventually to work their way into standard lending practices, calling it “the crowning glory” for companies like his. He also mentioned that while nonstandard lenders may offer high interest rates at first, over time, rates are likely to drop as they refine their lending models.
 





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