One of the Possible members you’ll be introduced to in this year’s Impact Report is Shakeyla.^ She’s from the Motor City—Detroit, Michigan, and she just started using Possible this year. Before that, she was relying on payday loans to make ends meet. She’s a working mom, and her goal is to build a financial cushion for her family—but with the rising cost of gas and groceries, saving has been an uphill battle.
Before Shakeyla found Possible, payday lending damaged her finances more than it helped:
“I ended up paying $1,800 for a $500 loan. So it's like, did it really help me? Not really. It just kind of put me back in the same hole to where I'm going to have to borrow again.”
Shakeyla, Court Supervisor
Member Since 2024
That’s a debt trap. Shakeyla deserves better.
Her first Possible Loan was just for gas and groceries. A couple things that impressed her: with Possible, she was able to borrow sustainably, and pay it back over time. “Possible doesn't allow you to overextend yourself,” she assured my team when they met in June. “It was just what I needed to get over the hump.” With the Possible Loan’s installment plan and flexible rescheduling, she could catch her breath financially and get back to her savings goal.
There are millions like Shakeyla—and this year’s Impact Report theme, “In the Driver’s Seat,” is all about giving them the tools to navigate their own financial journeys. It’s about agency, empowerment, and creating solutions that work on their terms.
In 2024, this belief drove everything we did—and the accomplishments we made along the way:
Helping over 4 million customers leave payday loans behind since our inception—just like Shakeyla, who used her Possible Loan to support her family, which means we are able to deliver both relief and freedom in a difficult moment.
21 million Possible payments were rescheduled—with no fee—because life doesn’t follow a perfect timeline.
Thousands of customers enrolled in the Relief Plan, helping them manage unexpected hardships.
2024 was also a year of milestones for us: we’ve issued millions of loans since our inception, and our customers have borrowed over $1 billion. For each of those loans, since we don’t charge late fees, rollover fees, or penalty fees like insufficient funds fees—we’ve saved our customers over $500 million*.
^This individual was compensated in return for sharing their honest opinion. Results may vary.
To my colleagues and our customers: you did that. That’s progress towards achieving our mission to benefit the economic mobility of the communities we serve. Every one of those achievements represents an impact on our customers’ daily lives.
Like many of you, I’m motivated and inspired by how every win underscores our commitment to our customers’ financial health. We won’t succeed unless our customers do. By designing solutions around their needs, we’re proud to have become more than just a lender but a partner: When there’s not enough money coming in, folks know they can rely on Possible.
This report is full of stories, stats and milestones that show what’s Possible when people get the financial tools they need. Thank you for joining us on this journey—and for helping us put millions of customers back in the driver’s seat.
With gratitude,
Tony Huang
Co-Founder & CEO, Possible
In 2024, you saved
million
by choosing Possible, because we never charge insufficient funds fees, renewal fees, late fees, penalty fees or failed payment fees.
That’s over $500 million in savings since our inception.
That includes
million
in prevented non-sufficient funds fees.
Plus, another
million
back in your pocket since we don’t do rollovers, either. That means no renewal fees, late fees, penalty fees or failed payment fees.
When we say we’re here for you, we mean it
million
Possible Loans were funded in 2024
weeks
average time pay off a Possible Loan
Fact: the typical payday loan is paid off in full on your next payday, about 2 to 4 weeks away. We’re proud to offer a lot more time.
Source: CFPB
million
payments rescheduled
We offer payment flexibility up to 29 days out from your original payment date—and there’s no rescheduling fee.
Members had
higher
bank balances a month after paying off their loan
Staying with Possible has its perks
On average,
returning members saw loan offers grow by
of returning customers got equal or bigger loans
Possible payments count toward building credit history
Our members made
payments
In 2024, and each one helped them build credit history—because unlike other lenders, we do report to credit bureaus.
Source: Debt.org
When we say you get your money instantly, we mean it
The median time to receive funds? Just
after acceptance.
That’s faster than picking up a cup of coffee—or brewing your own.
Get to know our Detroit community
What you used Possible for
%
Bills
%
Consolidate debt
%
Other or no response
%
Medical expenses
%
Financing a purchase
%
Purchase vehicle
Relief plan
With our financial Relief Plan, you get extra flexibility if you’re facing financial hardship. Already using a Possible Loan? The Relief Plan gives you even more time to pay—on top of our 29-day fee-free rescheduling. It’s free to enroll, and it covers a range of unexpected situations.
These are real customers who enrolled in the Relief Plan. We compensated them for taking the time to share their story. Everyone’s experience is different, so individual results may vary.
Top hardship reasons for Relief Plan enrollments in 2024
We’re proud to support our members with this benefit. From reaching out to those of you affected by back-to-back hurricanes to supporting our members whose financial health was impacted by medical care expenses, here’s the breakdown of all Relief Plan enrollments in 2024:
%
Natural Disaster
%
Medical Care
%
Death in Family
%
Serious Illness
%
Home Emergency
You ask, we listen
A journey fueled by results
Our members love Possible—and we’re always striving to be even better.
customers installed the Possible app
And on the App Store, 114.9K of you have rated Possible at
On TrustPilot, we’re proud to have earned an Excellent rating and
Our research team spent
talking with customers face-to-face
of surveyed members would recommend Possible to others
Road trip
Reaching more communities, one state at a time
Expanding access to credit solutions that put our members in the driver’s seat, we launched the Possible Loan in three new states in 2024: Hawaii, Oregon and Nevada. From blue coastlines to dry deserts, even more people can access the tools they need to navigate their financial journeys.
Thank you for riding with us.
Money milestones
We’ve funded over
in loans since our inception
Making Possible history
We’re proud to have served over
customers since founding Possible
Team Possible
Where we made it Possible in 2024
Accelerating our collaboration to support our promise to deliver, our teams made things happen—far and wide.