I don’t care about credit. Considering the topic, let me clarify: I don’t care about getting any credit for this idea.
It is time to do something about the predatory lending practices of Payday Loan Companies. Here’s a really “Jesusy” idea.
Some Christian or Christians with abundant financial resources ought to rent a place next door to every Payday Loan shop. Ok, let’s start with just one; you pick.
With the same of similar standards of identification and verification of income or employment, this Jesus version of Payday Loan would have the same supply of funds available as next door, but with one very clear difference.
Christians don’t charge interest to poor people.
I have been caught in the nearly interminable cycle of this sort and have some sense of the affect interest has on this sort of loan. I never did a payday loan, but visited pawn shops, sometimes just to make an interest payment, more than I care to admit.
Many, many people in our culture need to be liberated from this debt cycle. no-interest loans will not do this alone, but it might provide the relational space within which to offer the kinds of help that people need to step out of the cycle.
Rich Christian, please consider this!