"It's good to be the King". When you're as big as Google, you can ban Adwords leading to payday lenders whilst also investing in a a payday lender. Yes, Google Ventures and Google are separate decision making entities, but they are still under the same umbrella. The good thing is that now LendUp and other short-term lenders will most likely need to re-evaluate their models and what they offer to borrowers. Whether that includes early-payment penalties or high interest of over 300%. The market definitely needs to shift gears.
“We do worry about how this will play out and think it paints with too broad a brush,” said Sasha Orloff, LendUp’s chief executive. LendUp, the moniker used by Flurish Inc., said the Google ad ban could make it harder for the company to market its loans and that the firm will have to change its strategy for attracting new customers.