Lobbies closed except M-F by appointment at select offices. St. Vincent de Paul-Dallas Mini Loan Program. The Society of St. Vincent de Paul-Dallas recently began offering small-dollar loans to LMI individuals living in the Dallas area. The Mini Loan Program (MLP) was launched in January 2015 and reached its one-year mark of lending in July. Using $135,000 in collateral, St. Vincent de Paul-Dallas has successfully co-signed and extended credit for 47 new small-dollar loans and 56 predatory loan conversions ranging from $200 to $3,500. The average loan amount for the program to date is $1240, with a monthly payment of $144. For predatory loans that were converted, the average APR for borrowers in this program had been 347 percent prior to conversion. The Society estimates that 80 percent of its borrowers would not qualify for a loan at a bank if they applied alone.Should you have any concerns about making your repayments in time, simply contact the friendly MoneyMe team for guidance. We are available via phone, email, live chat, Facebook or Twitter and will work with you to find a suitable solution. While you may have to pay default fees, know that we will be completely upfront about these.
While installment loans tend to be more affordable on the whole, of course, not all loans are created equal. You'll still want to compare rates and fees to ensure you get the best deal. An online lending network, like our top-rated picks below, can help you compare options without a lot of legwork.
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