Thanks to a generous donation designated exclusively to provide direct relief to participants, Exodus Lending helped 241 Minnesotans impacted negatively by COVID-19. Since May, Exodus Lending covered $27,476 of loan payments for 190 participants and distributed $71,400 worth grants of up to $500 each to 156 individuals.
Through these efforts, Exodus Lending provided participants with:
“Thank you to Exodus for their continued assistance in helping those of us out here who are truly struggling. You have made (and continue to make) a huge difference in our lives, so we can buy simple things like groceries and gas and pay our bills during these hard times. Thank you so much.”
This much-needed relief is in addition to our ongoing interest-free predatory loan refinancing program. Our program team has enrolled 66 Minnesotans this year. On their behalf, we refinanced about $52,522 of predatory debt. We saved these new participants an estimated $170,896 in interest and fees that they’d otherwise had paid to exploitative lenders over a year’s entrapment in the payday loan debt trap.
“Exodus has been such a blessing to me. Thank you to you and ALL of your supporters and donors!!”
Thank you to everyone who joined The Theater of Public Policy and us at our virtual event earlier this month! If you missed the live event, check out the recording on YouTube.
Exodus Lending will join the University of Minnesota Extension, Prepare + Prosper, and LSS Financial Counseling on a webinar, “Gearing Up for Tax Season 2021: Financial Wellness + Resources During COVID-19” on Thursday, November 19th at 10 am. Register today!
Oh, and November 19th is also Give to the Max Day! If you’re planning on taking part in Minnesota’s giving holiday, please consider a gift to Exodus Lending.
In case you missed it, here are some of the latest news items on predatory lending:
Exodus Lending’s office remains closed. Our team is working remotely and can be reached by phone at (612) 615-0067 or by email at [email protected].
Exodus Lending E-Newsletter: October 2020