April 2020 Update | Home A-Loan, But Together In Spirit | Exodus Lending - Exodus Lending

April 2020 Update

By Kaitlyn Szabo April 13, 2020

Home “A-Loan,” But Together In Spirit

As news is perennially breaking and circumstances are ever-evolving, whatever happened this morning already feels like a lifetime ago. Yet amidst all the turmoil, our team at Exodus Lending continues to serve Minnesotans in financial distress due to predatory loans while we work home “a-loan.” 

Here’s what we’re doing to maintain our operations safely:

  • Our entire team will continue working remotely as our office remains closed indefinitely. Please don’t hesitate to reach out by phone at (612) 615-0067 or by email at [email protected].
  • We have resumed accepting new participants into our program again after transitioning our enrollment, including predatory loan payoffs, to an entirely online or over-the-phone process.
  • For current participants, we have offered a deferment plan until June, compiled a list of resources to help them navigate the COVID-19 crisis, and reintroduced text-messaging to make communication easier.

This unique moment is weighing heavily on all of us.

We at Exodus Lending are feeling this ache, too. However, we cannot help but recognize that these sinking feelings of uncertainty, stress, and fear are not new. For the thousands of Minnesotans already living paycheck to paycheck, already on the cusp of extended economic hardship, the financial crisis was already here. What was once a smoldering fire is now a blazing wildfire – engulfing us all.

No one should struggle to secure critical necessities because they have to use their limited funds to pay off debt. This simple fact is as true today during a global pandemic as it was when our program began. For five years, we have been extinguishing payday loan debt for Minnesotans statewide. And while we don’t know what the rest of this month or this year holds, we do know this: that work must continue.

We have accomplished too much  – 425 Minnesotans served, 577 predatory loans refinanced, more than $971,000 of interest and fees saved – to stop now. Although the world is seemingly burning around us, we need to rekindle the fire within us. We are still human. So we put together a 🔥 mixtape to try to capture all of these feelings. 

Let’s celebrate the highs, cry during the lows, calm our nerves through the chaos, and center our humanity.

Share the songs you’ve been listening to while you #StayHomeMN by tagging us on social media (@ExodusLending) or sending Kaitlyn an email at [email protected]. We’d love to hear them or add them to our Home “A-Loan” mix!

The truth is that our most difficult days lie ahead of us.

Even knowing this, we must still move forward – one day at a time – because this big, scary, unknown future is all we got. And we are only going to get there together. 

Predatory Lending in the News

In case you are seeking even MORE news right now, here are some of the latest predatory lending updates:

Exodus Lending E-Newsletter: April 2020