SimpleFi: SimpleFi approved for Texas lending license

SimpleFi, a private lender based in Palo Alto, Calif., has been approved by the state of Texas for a lending license and will commence operations in San Antonio. Adam Potter, president of SimpleFi, said the company plans to provide funds for active duty military personnel in San Antonio who would otherwise look to risky payday lenders. "We are hoping to get about 10 new customers registered per day and fund about $10,000 in loans per day," Potter said. Roughly 20 percent of the 125,000 active...