A paycheck linked loan (PLL) allows a consumer to consent to paying a lender by having some or all of their loan amount automatically deducted from their paycheck. This enables a low friction lending experience for the consumer and makes it easier for the lender to receive payment.
Benefits also include:
- As a borrower, you might qualify for a higher loan amount
- As a lender, you get to deduct the loan amount directly from the borrower's paycheck
Like the rest of Citadel's products, a PLL can be initiated from your application via our easy-to-implement API.