LendUp sees opportunities among the 56% of U.S. adults with credit scores below 680 — consumers who comprise the near-prime and subprime groups of prospective borrowers. Its first product, LendUp Ladder, was launched in the U.S. in 2012. It took aim at payday loans used by lower income individuals. Payday loans are structured to be repaid in 2 to 4 weeks, though a large percentage of borrowers fail to meet the payoff date. Those loans are notorious for saddling their high-risk users with multiple fees on top of interest rates that often exceed 400% when annualized. The multiple fees charged ...