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It's clear who Mr Angest's lender targets – vulnerable people who can't get a loan through normal methods.
"A lot of Indian students get a loan through their parents, which they'll have to pay back.
However, not everyone who meets the initial criteria will get a loan through the bank, with some commentators suggesting that HSBC is more likely than some other lenders to turn down applications.
Consumers who may not have the cash upfront to make a big purchase, like a kitchen appliance, for example, might be able to get a loan through Household at the store selling the appliance, and then take it home right away.
She also warns that if customers cannot get a loan through a payday lender, they are likely to turn to unregulated lenders.
Banks lose power when consumers are no longer reliant on an ATM machine to move money, or when consumers are able to get a loan through a non-bank online lender or when a personal finance app becomes the primary interface for a consumer to manage their money.
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But unlike borrowing from a bank, getting a loan through a crowdfunding platform means you are borrowing from lots of investors at once so you may even be able to choose the investors who offer the lowest interest rates.
Getting a loan through a financial institution may require more qualification than other methods, but you have the option of applying for larger loan amounts.
The only realistic way to get a loan was through a HELOC and many Americans were underwater on their homes during this time.
Now, through this partnership, Etsy sellers can get a loan of up to $5,000 through Kiva Zip.
"First, my mother would never be able to get a loan in Yugoslavia," Milicic said through an interpreter on Wednesday.
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