August Update - Exodus Lending - Exodus Lending

August Update

By Sara Nelson-Pallmeyer August 4, 2016

Unfortunately, payday lending doesn’t take a summer vacation. The good news is that neither does Exodus Lending!
We now have worked with 82 loan participants and refinanced 109 loans. Nine participants in our program have completed paying back their loan over the last year. More are scheduled to complete their payments in August and we’ll be partnering with others who have been trapped by payday loans this month as well.
We are thrilled that Living Lutheran, the national magazine of the Evangelical Lutheran Church in America, just published a story about Exodus Lending in its August 2016 issue. You can read the full article here.
Share your opinion! The Consumer Financial Protection Bureau (CFPB) is asking for the public to comment on their proposed rules limiting payday loans. Let the CFPB know your view here.
What gives us hope? Our brave participants who face economic uncertainty from payday lenders, yet remain positive and continue to dream big. One of our graduates, Brian, told us, “We were glad to pay back the loan in order to allow Exodus Lending to offer a loan to someone else who needs one.”
We are grateful to our participants who are paying back their loans and we are grateful to you, our donors, for your ongoing support for our mission and work.