People Trust is pleased to offer our community Consumer Loans. A Consumer loan means a secured or unsecured loan given to customers for personal, family, or household purposes, or for consumable items such as a car, boat, manufactured home, home equity loan, home equity line of credit, consumer loan, consumer line of credit, and recreational vehicle. It is usually given on the basis of borrower's integrity and ability to pay.
Stark disparities in consumer credit exist in low- and-moderate-income (LMI) neighborhoods across metropolitan areas (MSAs).
People Trust Consumer Loan is designed to help people who have poor credit or who have little or no credit history build credit. A good score makes approval for credit cards and loans, and better interest rates.
People Trust Consumer Loans do not require good creditfor approval. They do require that you have enough income to make payments. Thanks to our partnership with Credit Builders Alliance, your on-time payments are reported to the credit bureaus. Because credit scores are calculated from information in your credit report, those on-time payments can have a big impact.
A small business loan is a form of debt financing used by small businesses and startups to fund their operations. Small business loans are a critical source of funding, and without them, many businesses would cease to exist. Small business owners in low- and moderate-income areas receive disproportionately fewer bank loans than small businesses in more affluent areas. This lack of access to capital compromises a crucial source of economic opportunity and asset-building within lower income neighborhoods. Bank loans to businesses are necessary for community development because businesses without adequate access to capital fail to grow, cannot hire workers, and cannot make the kinds of investment often required of entrepreneurs.