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Nonprofit Lender Has Alternatives To Predatory Loans In Illinois

Posted by: funnytodd   
September 24th,

A nonprofit loan provider is expanding to Illinois to provide low-income families loans with increased reasonable terms to enable them to avoid predatory organizations and debt that is subsequent.

Capital Good Fund offers unsecured loans ranging from $300 to $20,000, assisting families with diverse emergencies such as for example car repairs, safety deposits and immigration expenses.

The lending company announced this thirty days it is now providing loans in Illinois. Capital Good Fund additionally provides loans in Delaware, Florida, Massachusetts and Rhode Island.

On the decade that is past Capital Good Fund has made 4,500 loans for a complete nearly $10 million, saving borrowers $4 million in interest and costs, in line with the loan provider.

The lender’s objective is always to do 300 loans, totalling $1 million, in its very first 12 months in Illinois. Read the rest of this entry »