Short-Term, Small-Dollar Lending: Policy Problems and Implications

Short-Term, Small-Dollar Lending: Policy Problems and Implications Short-term, small-dollar loans are consumer loans with reasonably low initial principal amounts (frequently not as much as $1,000) with reasonably repayment that is short (generally speaking for only a few days or months). Short-term, small-dollar loan items are commonly used to pay for cash-flow shortages which will happen…

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