Dealstruck is among a new group of alternative lenders offering a middle path between banks and cash advance lenders. The latest upstarts combine digital innovation and efficiency with true term loans akin to bank loans. Their rates are higher than those charged by banks but lower than those charged by short-term alternative lenders. Dealstruck uses a peer-to-peer model in which wealthy investors put up the capital for individual loans, lowering the lender's cost of capital by freeing them from raising money. The lender also offers lower rates by targeting midprime or near-prime borrowers and lending larger amounts for longer terms. Dealstruck’s interest rates range from 8 to 24 percent for loans of up to $250,000 that can stretch for three years.