How wedding loans work

4:30 AM ET Thu, 1 Aug 2019

The average American wedding costs nearly $39,000, and a growing number of newlyweds-to-be are relying less on their families to pay for their dream ceremonies and are instead choosing to go into debt. These young couples are spawning a new breed of personal debt championed by Silicon Valley tech start-ups — millennial-targeted wedding loans. Fintech lenders report issuing double the amount of wedding-branded loans in 2019 than the same period the year prior.