Impact and Programs
In 2017 we had 54 enrollments and refinanced a total of $43,595 of payday loan debt. This saved participants an estimated $105,100 assuming they would have otherwise been stuck in the payday loans debt trap for a year. Additionally, last year 36 program graduates successfully paid off their Exodus Lending loans. After completing the program 92% of survey respondents felt they were more equipped today to be financially successful or healthy than before they joined Exodus Lending.
In 2018 Exodus Lending will enhance our program's benefits by becoming a credit reporter with the Credit Builders Alliance (CBA) and will continue our strategic expansion efforts to serve more Minnesotan beyond the Twin Cities metro area.
Community or Constituency Served
We serve Minnesota residents who have a steady source of income, a bank account, and have been stuck in the payday loan debt trap for at least 30 days.
Geographic Area Served
Exodus Lending refinances payday loans for all residents of Minnesota.