The lack of accessible loan products in Calgary means that individuals are forced to turn to high cost payday lenders, which can reinforce the cycle of poverty. United Way is working with community partners to develop micro-loan products with financial institutions to address this need through small, lower interest, short-term loans.
First Calgary Financial, Momentum, The City of Calgary, United Way of Calgary and Area
Community of Practice:
For information on alternatives to a payday loans, visit Cash Crunch Loan.