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Archive for the ‘are payday loans secured or unsecured’ category

Susan Leblanc, the NDP MLA for Dartmouth North, has introduced a bill that will look at government that is provincial individual, short-term, “micro-loans” for amounts as much as $2,000 from credit unions.

We talked to Leblanc shortly, by phone, on and she told me the guarantee would be similar to the one the province now provides for small business loans from credit unions friday. The theory, she stated, is always to offer an alternate to payday advances — the short-term loans provided by payday loan providers (like cash Mart and EasyFinancial and cash Direct and also the money shop) at usurious prices in this province. ( Both payday lenders and credit unions are managed by the province, unlike banking institutions that are under federal legislation.)

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