Concerned with predatory lenders, Broward County officials stated they’re going to think about providing workers crisis loans with reduced rates of interest.
Commissioners consented to look for bids from financial institutions whom might want to form teams with Broward County, offering crisis loans as high as $5,000 to workers, including people that have woeful credit reviews.
The county employs a lot more than 5,000 individuals, and union frontrunner Dan Reynolds regarding the Federation of Public Employees asked for the loan program 2 yrs ago, discussing some loan providers as “vultures.”
“those who reside paycheck to paycheck must not be taken benefit of simply because past challenges that are financial brief product product sales, divorces or medical dilemmas have remaining all of them with blemished credit,” he composed in a page to County Administrator Bertha Henry.
Worker crisis loans can be found by the Broward County class Board, Leon and Seminole counties, the towns of Fort Lauderdale and Dania Beach, as well as other government and nonprofit companies in Florida.