Austin community lender launches option to pay day loans

Raquel Valdez likely to break even yet in about couple of years.

Valdez along with her peers at Business and Community Lenders of Texas, or BCL, had been getting ready to introduce a brand new lending that is small-dollar in Dallas, providing about 13,000 town workers an alternate to costlier payday and auto-title loans.

Town Loan Center of Dallas sent its announcement that is first in 2015. They’d fielded more than 1,000 calls, received 482 applications and funded more than $400,000 in loans by the end of the month.

” It ended up being a crazy thirty days of March,” stated Valdez, chief officer that is operating BCL, which can be a nonprofit.

Demand settled down when you look at the full months to adhere to. But amongst the city and about five other businesses that are private the Dallas area, how many month-to-month applications held steady when you look at the 75 to 100 range. Read more “Austin community lender launches option to pay day loans” →