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payday loan payment plan

Chattanooga Neighborhood Enterprise loan program provides companies, workers option to predatory loan providers

Research has revealed that roughly 12 million Us americans utilize payday financing and therefore Tennesseans use the high-interest, short-term loans more frequently than less-regulated states.

Chattanooga Neighborhood Enterprise is attempting to make that around with regards to brand brand new loan that is low-interest targeted at supplying area workers with an alternative solution to high-risk unsecured loans.

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Chattanooga has one payday lending store for approximately every 1,500 households — one of several greatest prices in the united states, in accordance with a 2017 assessment of short-term pay day loans by the Chattanooga Mayor’s Council on ladies.