Harmoney offers bigger loans

It said, thanks to comprehensive credit reporting and having dealt with $2.6 billion in applications, it had been able to conduct detailed analysis to make the change.

“One data-led decision from this analysis is that the loan limit for selected top-quality customers has room to increase,” it said in a note to investors.

“As a result, the maximum loan limit has now increased to up to $70,000 for some borrowers.”

Harmoney assigns its interest rates according to risk, so those who are deemed to be the highest risk of default pay the most for their loans.