October 2018 Update - Exodus Lending - Exodus Lending

October 2018 Update

By Kaitlyn Szabo January 8, 2019

Trick or Treat!

Is there anything scarier than the almost 400% average APR on payday loans in the U.S.?

We can think of something… 12,000%.

Yeah, that’s not a typo. 12,000%. That’s how much one recently enrolled participant was paying on an online payday loan. According to the terms, this borrower – who initially took out $400 – would have to pay almost $5,000 before all was said and done!

This scary story took a turn for the better because this participant is one of 18 we enrolled last month alone, making September our highest enrollment month in our program’s history! They joined the hundreds of Minnesotans from 27 counties we’ve helped escape the payday loan debt trap since 2015. No fees. No judgment. No tricks! Only the treat of 0% interest and the sweet relief of being free from dreadful payday loan debt.


Give to the Max Day

With November creeping up, Minnesota’s big giving holiday – Give to the Max Day – is right around the corner. Please keep Exodus Lending in mind for your gifts.