Star Tribune
Diverse allies arrayed against the Minnesota payday loan industry are getting a little traction.
Sunrise Banks of St. Paul, which has developed a small-dollar loan program that already covers 10,000 employees through participating employers, last month won a $2.2 million Next Opportunity Award, which is funded in part by Wells Fargo.
Sunrise CEO Dave Reiling said the fresh capital will bring its 2015-launched TrueConnect program “to scale nationally and offer a safe-loan alternative for 26 million Americans who do not have a credit score.”
