Raquel Valdez likely to break even yet in about 2 yrs.

Valdez and her colleagues at company and Community Lenders of Texas, or BCL, had been getting ready to introduce a unique small-dollar financing system in Dallas, providing about 13,000 town workers an alternate to costlier payday and auto-title loans.

Town Loan Center of Dallas delivered its very first statement in March 2015. They’d fielded more than 1,000 calls, received 482 applications and funded more than $400,000 in loans by the end of the month.

” It had been a crazy thirty days of March,” stated Valdez, chief running officer for BCL, that is a nonprofit.

Demand settled down into the months to adhere to. But involving the town and about five other personal organizations in the Dallas area, the sheer number of month-to-month applications held steady within the 75 to 100 range. Read More