Rural Money Payday Lenders Target Minority And Rural Communities
A Fox Guarding The Hen House Is Like A Bank With A Security Guard!
Rural money payday lenders target minority and rural communities with the most menacing form of alternate financial service in these areas.
Disclaimer: I am an Amazon Associate; therefore, this post may contain affiliate links for me to earn a commission. RuralMoney.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.
However, online lenders such as LendUp.com could be the exception for personal loans (do your due diligence/intelligence).
Lenders tend to be largely concentrated within poorer minority communities.
A drive through minority neighborhoods clearly indicates that people of color, regardless of income, are a target market for legalized extortion.
Payday lending is an economic drain that threatens the livelihoods of hardworking families and strips wealth from entire communities.
Likely due to the combination of sporadic employment and underemployment caused by the recession, payday lending storefronts have exploded in number.
An industry estimate reports that in 2010 there were approximately 19,700 payday stores nationwide, which issued $29.3 billion in cash advance loans.
There are more payday lenders than McDonalds or Starbucks locations in the United States.
The core demand for payday loans originates from households with a poor credit history, but who also have checking accounts, steady employment, and an annual income under $50,000.
In addition to urban communities of color, payday lenders can be found clustered in rural communities and around concentrations of low-wage workers and military bases.
Rural Money Resource: If you are in danger of losing your home, click the link to read my post about some states helping the unemployed and financially distressed borrowers.
Do you know you can get free land in Alaska t...
The Georgia Department of Community Health (D...
When looking for a career in the medical indu...
Don't forget that individuals like you can ge...
Do you know that you can get free money just ...