For high-earning borrowers with prime credit, there's no shortage of lenders willing to offer easy loans or credit cards that come with perks like cash back and travel rewards. For everyone else, lending options can be limited—and often predatory.
That's why the fintech startup Yendo is trying to make borrowing more accessible by offering loans secured by many Americans' most valuable asset: their cars. The product comes at a time when asset-backed cards are growing in popularity amid an economic environment marked by high inflation, rising interest rates, and tightened institutional lending.
