Offer loans as an employee benefit, this start-up says
Los Angeles Times
For seven months, Macey struggled to make minimum monthly payments, though the balance of the loan never seemed to budge. She feared the lender would soon take her car, which she needs for work.
“I thought they would come in the middle of the night,” she said. “Those loans, they consume you.”
In January, her employer, an in-home care provider, added TrueConnect to its employee benefits. Macey borrowed another $1,500, most of the amount she needed to finally pay off her title loan. Now, instead of paying $225 a month and not knowing when she’d ever be out of debt, she pays about $130 a month and knows that she’ll make her final payment in January.
“I don’t have that stress anymore,” she said. “It was the best thing I ever did. The best by far.”