Why does Stilt ask for references?

After receiving a loan offer from us, as a requirement, we will ask for 4 U.S references and 1 reference from your home country. By having these reference on file we are able to:

• Verify your identity
• Verify that you are currently living in the U.S. 

In addition, we have found that asking for reference helps as another means of contacting you, especially in situations where you may be traveling and we can't get ahold of you, or if your phone number changes and we are not able to contact you through the information in your profile.

Benefits of references:

We have also found that asking for references reduces risk and leads to higher repayment rates. By having higher repayments rates we are able to transfer those savings on to borrowers and offer lower interest rates than our competitors. 

Please note:  If at any point you become delinquent and no longer respond to our call/ messages/ emails, we will reach out to your references as another means of contacting you.  

For more information to learn when we will call your references, please check here. 

**Please note that a reference is not a co-signer, they are not under any obligation to make a payment on your behalf. If you have any further questions regarding references please send an email to team@stilt.co