In Arkansas, the percentage of unbanked and underbanked household’s falls above the national averages, with 9.7 percent of households in Arkansas that are unbanked and 22.6 percent are underbanked according to www.bankon.org. In the state of Arkansas payday lending is prohibited due its predatory nature. At the time this legislation was passed in 2009, there were over 200 thousand Arkansans utilizing these types of financial products because of a lack of access to flexible, affordable capital. Traditional financial institutions (Banks) have left many low income communities in Arkansas. The absence of banks has created credit deserts in low income communities, leaving them without equitable access to the US financial system. For many unbanked and underbanked communities credit scores are very low and so many are credit invisibles and do not approach banks due to fear of rejection for having low fico scores. Fortunately, there is a safe and affordable alternative. People Trust is a Community Development Financial Institution loan fund, Certified by the United States Department of Treasury CDFI Fund. Our Consumer Loans are safe, flexible, and affordable. People Trust is NOT a Payday Lender. A typical payday loan is a loan that has to be paid back by your next paycheck with interest rates as high as 1500%. People Trust interest rate on all loans is 7.77% with payback times up to 90 days and no less than 30 days. People Trust is here to help low income individuals who feel they have been shut out and forgotten about but still need access to capital. It takes credit to get credit and People Trust wants to show creditors that you are credit worthy by reporting your good performance to the credit bureaus on a monthly basis. So if you find yourself with more bills than month or you are in a financial crisis. When we say safe, we mean it! You don’t have to worry about your information being shared or sold for bids or any other solicitation. We want to be the financial institution you turn to in your time of need. Trust is a must and you need a financial in your corner you can trust and that is none other than PEOPLE TRUST. Give us a call or email us TODAY!
Flexible Small Business Loans
Small businesses are the backbone of America and are a vital part of the economy. Small businesses help the community by creating jobs and opportunities for individuals and families. With the current economic conditions, it’s hard for small business owners located in low income communities with little or no credit to obtain a loan. We are a NOT Merchant Cash Advance company. People Trust is a Community Development Financial Institution (CDFI) loan fund. We offer easy accessible, safe, flexible low cost loans to small businesses located in low income communities who may not otherwise receive the opportunity. Most banks only look at the borrowers FICO score but fail to take a deeper dive due to various reasons. Most small business owners seeking loans serving low income communities require extensive technical assistance due to being underbanked and having no formal relationship with a tradition financial institution. For the small business owners located in low income communities it is even harder to get a yes. According to www.bloomberg.com entrepreneurs are particularly vulnerable, as lockdowns slam the economy and federal aid fails to reach many of those most in need. People Trust interest rate on all loans is 7.77% with payback times up to 180 days and no less than 30 days. . When we say safe, we mean it! You don’t have to worry about your information being shared or sold for bids or any other solicitation. People Trust understands the technical and financial needs of small businesses and we want to be the financial institution you turn to without hesitation. When a small business applies for a loan, it is important to have a financial institution that will respond fast! We are mission driven lenders and we want to gain your trust for all your small business development and lending needs. We won’t give you the run around or waste your time, give us a call TODAY!