Category Archives: cash cow payday loans

Exodus Lending is breaking the cycle of pay day loans

Payday advances are becoming a large amount of attention these days. An online payday loan is a tiny, short-term, unsecured loan applied for to pay for an urgent situation, also it’s meant to be paid back aided by the next paycheck. But, the attention and costs charged are almost constantly exorbitant—and can make a period of debt this is certainly very difficult to split.

Exodus Lending is assisting borrowers caught by payday financing as it launched 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 led over 100 individuals on the way to stability that is financial.

When you look at the terms of Sarah, an Exodus Lending graduate: “Even though We stressed it wasn’t the most effective solution for my cash dilemmas, We took down an online payday loan. I possibly couldn’t manage to spend the loan back whenever it arrived due, therefore I discovered myself taking out fully another loan to settle the very first loan and its own charges. We never ever thought I’d be stuck when you look at the cycle that is same year later—but here I became.”

Exodus Lending asks the after eligibility concerns: can you live when you look at the state of Minnesota? Do a balance is had by you on an online payday loan that is lower than $1,000? Continue reading