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Nonprofit Lender Has Alternatives To Predatory Loans In Illinois

Nonprofit Lender Has Alternatives To Predatory Loans In Illinois

A nonprofit lender is expanding to Illinois to supply low-income families loans with additional reasonable terms so that they can avoid predatory companies and subsequent financial obligation.

Capital Good Fund provides 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 loans that are now offering Illinois. Capital Good Fund additionally provides loans in Delaware, Florida, Massachusetts and Rhode Island.

Within 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 charges, in line with the loan provider.

The lender’s objective would be to do 300 loans, totalling $1 million, in its year that is first in.