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KANSAS CITY, Mo. (AP) An startup which started in Kansas City as an alternative to the cash lending business has been awarded a $1 million grant to expand its own services.,Washington, who is headquartered in Washington, D.C., chose to establish the project in Kansas City due to the payday advance industry's presence in the region and the illegal schemes found from the industry.,Leawood entrepreneur and race car driver Scott Tucker operated an illegal $2 billion money loan operation in Kansas City. The Rockefeller Foundation and Chan Zuckerberg Initiative recently declared Onward Financial Inc. is among 10 firms to be given a grant in the Communities Thrive Challenge, the Kansas City Star reported.
The grant enables workers to be hired by Onward Financial and expand its services and triples the budget of the startup. 'I've been working on this for approximately a couple of years,' creator Ronnie Washington said of their personal finance app. 'It means that which.' Onward Financial operates a program through a program employers can use to encourage employees to start a savings program, find out about personal finance and borrow for emergencies at low rates of interest. Washington, who is based in Washington, D.C., chose to launch the project in Kansas City due to the payday advance industry's presence in the region and the illegal approaches found in the business.
Race car driver Scott Tucker and leawood businessman operated an illegal $2 billion money advance functioning in Kansas City. The payday lending business of the city has also seen businesses and groups face indictments insolvency, monetary penalties and imprisonment.
By bettering Onward Financial through the city's 2017 Innovation Partnership 23, kansas City officials are trying to combat the illegal activity.
The startup also partnered to get Prier Products workers involved with the application.
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