SAN DIEGO, June 20, 2016 /PRNewswire/ -- Zebit, a company committed to offering no-cost, transparent credit to hardworking Americans, today launched its offering to employees of K-12 schools, colleges and universities across America. Zebit provides access to $1,000 interest-free credit to purchase brand name products, services, and school supplies in Zebit's online marketplace. Whether used to finance items for the classroom or home, employees can pay for purchases over time without fees, interest, or penalties.
"Zebit recognizes the financial sacrifices that America's educators make in the classroom and at home. With many schools experiencing a decrease in funding, teachers and staff are left to purchase classroom supplies out of their own modest paychecks," said Michael Thiemann, CEO and co-founder at Zebit. "Rather than using credit cards with high interest, or having their students go without books, technology, or basic essentials because their personal budgets cannot be exceeded, Zebit is here to offer the most financially responsible option to provide for their family and their classroom."
Research shows 99.5% of teachers spend some of their personal income on their classrooms, with an average out-of-pocket contribution of almost $500. Earning an average starting salary of $36,141, teachers are expected to personally contribute supplies for their students in addition to affording their personal living expenses and possible student loan payments from years of higher education. If cash is not available, many turn to credit cards. 82% of educators have credit cards, which is 19% higher than the general population. Unfortunately, credit cards can come with interest, fees, and revolving debt.
Zebit is focused on relieving educational employees from turning to high-cost financing options by providing access to free financial resources and $1,000 interest-free credit. With Zebit, educators can more affordably buy what they need now, while paying for it over time at no added cost or credit check. Zebit's responsible credit can be used to make purchases in the Zebit Market featuring over 30,000 brand name classroom supplies, electronics, and home goods at competitive retail prices. A few brands and e-certificates that can be financed include Apple, Staples, Samsung, JC Penny, Frigidaire, and many more.
Educators interested in joining Zebit can visit www.zebit.com/educators.
Zebit is committed to offering no-cost, transparent credit to hardworking Americans. Zebit counters deceptive financing alternatives by offering interest-free credit, financial education, and planning tools to help working Americans take control of their everyday financial lives. Its direct-to-consumer offering is available to employees of K-12 schools, colleges, and universities and active and retired U.S. military. Employers can also offer Zebit as a free employee benefit to lower employee stress and improve the corporate bottom line. Zebit is located in San Diego and is backed by Crosslink Capital, Wildcat Venture Partners, Leapfrog Ventures, and Correlation Ventures. Learn more at www.zebit.com.
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SOURCE Zebit, Inc.