Exodus Lending

Mission Statement

Exodus Lending is dedicated solely to providing trapped Minnesotan borrowers a just pathway out of payday loan debt and toward financial stability.

Impact and Programs

Accomplishments In 2020, Exodus Lending had 84 enrollments and refinanced $71,926 of predatory debt. In doing so, we estimate our program saved participants $220,612, assuming these participants would have otherwise remained in the debt trap for a year. In 2020, 103 participants paid off their Exodus Lending loans. In response to the COVID-19 pandemic and with the use of restricted, one-time funding to provide direct relief to participants, Exodus Lending helped 241 Minnesotans by covering $27,476 of loan payments for 190 active participants and distributing $71,400 worth of grants of up to $500 each to 156 individuals.
Current Goals Our goals for 2021 are to continue to respond to persons trapped by payday and other predatory loan debt. We will enroll those who qualify for our program as needed; we will refer those who have loans that were made by unlicensed lenders to the Minnesota Department of Commerce; we will partner with others to work toward a 36% APR cap on loans issued to Minnesotans; we will explore providing alternative and fair loans to persons needing small dollar consumer loans.
Community or Constituency Served Our priority community is any Minnesotan currently stuck in the payday loan debt trap. Exodus Lending serves individuals living in Minnesota who have a steady source of income (either “earned” from wages or “unearned” from social security, etc.), have loan(s) of up to $1,500 total with annual interest exceeding 36%, and have had the loan(s) for at least 30 days.
Geographic Area Served Exodus Lending serves the entire state of Minnesota.

Reports & Finances

If you have additional questions regarding a nonprofit's financials, visit their website, or call and ask to review their IRS Form 990, Annual Report, or Audit for a more complete picture of their financial story.
Major Program Expenses
refinancing payday loan and other predatory loan debt:
3 Year Average Expenses
Program Services
Unrestricted Net Assets
End of Year:
Beginning of Year:

Notes from the Council

Organization Last Reviewed on 12/01/2021

This date is representative of when we completed our initial Accountability Wizard® nonprofit review, and provided the organization with their results. This review is good for three years from the date provided
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2380 Wycliff Street
Saint Paul, MN 55114
Phone: 612-615-0067

General Information

Alternative Name: Exodus Financial Services
EIN: 47-1706853
Principal Staff: Sara Nelson-Pallmeyer
Number of Full-Time Equivalents (FTE): 3.75
Volunteer Opportunities: Yes
Number of Clients: 150
Ruling Year: 2017


Board Chair: Vienna Wilson
Number of Board Members: 12
Board Meetings with Quorum: 12
Average Member Attendance: 11.3

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Let’s Connect

1915 Highway 36 W Ste 133 • Roseville, Minnesota 55113-2709
Phone: (651) 224–7030 • E-mail: info@smartgivers.org

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