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FSBDC at Florida A&M University helps develop cash advance alternative

FSBDC at Florida A&M University helps develop cash advance alternative

Numerous Floridians without usage of other designs of credit depend on payday advances – little amounts that needs to be paid back over quick durations – to pay for necessities between paychecks. But with normal yearly rates of interest on such loans usually within the triple digits, that support will come at a hefty cost.

Payday financing alternative

On the summer time, the Florida SBDC at Florida A&M University in Tallahassee worked with Mainstreet Financial, a partnership of economic literacy companies Mind Over cash, Wealth payday express Tipp City Watchers and RAISE Florida, to draft an agenda to supply “payday alternative” loans of around $500 to those depending on conventional pay day loans. Continue reading ‚FSBDC at Florida A&M University helps develop cash advance alternative‘

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