By Sara Nelson-Pallmeyer • October 20, 2016
Exodus Lending has now refinanced the loans of 93 persons trapped by payday loans and we look toward reaching 100. A few more statistics:
- The total number of participants who have repaid their loans in full and have “graduated” from Exodus Lending: 27 (and growing each month!)
- Total number of loans refinanced: 124
- Total amount refinanced: $61,433
- The average refinanced amount per participant: $668
- The average payday loan APR participants were paying before coming to Exodus Lending: 460%
- The amount of fees and interest paid to Exodus Lending: $0
- Total amount saved for participants (in 12 months): $240,243
