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How wedding loans work

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.

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