Organizer: Community Loan Centers of America
Many low-income families are unable to obtain conventional credit and rely on payday and auto-title lenders for small loans that come with predatory interest rates. We will look at alternatives to predatory practices, such as the Community Loan Center currently working in ten states, that allows local nonprofits to serve as the lender for fairly priced payday loan alternative program that is both sustainable and scalable. To date the Community Loan Center has provided more than 45,000 loans in ten states and saved borrowers over $26 million compared to payday loans.
Community Economies — Sponsored by Citi Community Development