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Stilt prepares to offer US immigrants banking products and a credit history

The firm, launched in 2016, provides loans of up to $25,000 to foreign nationals in the US at what it calls “better rates” than existing options.

Stilt says it can get an update on loan applications within 24 hours. A further agreement can take between two and three business days.

Customers can then set up a schedule of automatic payments through their account. They can also pay off the loan in full without a prepayment penalty.

Columbia University roommates Rohit Mittal and Priyank Singh, shown above, started Stilt at a start-up event. They won honours for their idea.

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