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Exodus Lending is breaking the cycle of pay day loans

Exodus Lending is breaking the cycle of pay day loans

Pay day loans are becoming a great deal of attention today. An online payday loan is a little, short-term, unsecured loan removed to pay for a crisis, also it’s meant to be paid back because of the next paycheck. Nonetheless, the attention and fees charged are almost constantly exorbitant—and can make a period of debt that is very difficult to split.

Exodus Lending happens to be assisting borrowers caught by payday financing because it started its doors 1ВЅ years back. The brain-child of Holy Trinity Lutheran Church (HTLC) when you look at the Longfellow neighbor hood, its two-person staff has directed over 100 individuals on the road to stability that is financial.

picture left: Until customer banking institutions and credit unions provide an inexpensive, small-dollar loan item, individuals will continue using payday loan providers like ACE money Express at 27th and E. (više…)

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