San Francisco-based online lender Earnest is targeting D.C. millennials with what it callsMerit-basedinterest rates for unsecured personal loans of $2,000 to $30,000.

Big data is transforming virtually every aspect of how we experience the world from how we track our health, to how we manage music, to how we shop online it’s time for it to transform our access to the money we all need,” Earnest co-founder and CEO Louis Beryl said in a release.

Our new merit-based interest rates are designed to give many more financially responsible people access to the credit they need to pursue their dreams at the very lowest rates available period.”

Since launching in May, Earnest says it has loaned more than $3 million.

A company spokeswoman told me Earnest expects to add Virginia and Maryland by the end of this year to the existing footprint of 18 states, with coverage extended nationwide by the end of 2015.

Earnest is focused on D.C.’s growing millennial population, many saddled with student loans from recently competed degrees that could scare off banks.

Sister publication San Francisco Business Times notes that Earnest joins proliferation of online lending marketplaces and other platforms providing financing alternatives to traditional banks, including Lending Club, Prosper Marketplace and and Affirm.