Access to Capital
Those who find themselves pinched for cash often turn to high-cost payday lenders, pawnshops and merchant advances. Do you know traditional banks and credit unions could serve that role and do it at much lower rates?
Many across the country are living paycheck to paycheck. Those are the lucky ones. There's an increasing number of folks who live on operational deficit and have to come up with creative ways just to get by before the next paycheck. Stagnant wages, high cost housing, childcare costs, and other financial strains are contributing to this problem.
Unfortunately, some lenders see despair as an opportunity to trap borrowers into high cost loans, with exorbitant interest rates that far too often lead into financial ruin. This type of abuse leads to damaged credit, car repossession, bank accounts closures, law suits, wage garnishment, and even bankruptcy. Fringe lenders deliberately target borrowers by strategically setting up stores, and ad's within communities.
For the average consumer you kind of get stuck before you can even get started -mainstream financial.
Can change this debt trap by providing product(s) that fit the community needs when it comes to accessing capital.
Tell us your story of being denied access to capital whether for personal or small business purposes we need to hear from you. Be sure to name names!!!!!!
A closed mouth does not get fed! To enact change, speak up so we can demand change!Share your story
HPP CARES CDE's accomplishments these past few years have been significant and all-encompassing; striving to advocate under the National Coalition for Equities’ umbrella to maintain a powerful community voice among the Federal and State regulators and major private sector corporations to address public policy issues, and to focus on the wealth & income inequality affecting affordable homeownership and small business growth. With the NCFE, HPP CARES CDE’s outreach efforts have led to an increase in corporate social responsibility and consumer protection. We have been able to reach more people, collaborate with more companies, meet with more regulators, all in the name of helping deserving individuals become sustainable homebuyers, successful small business owners, protected consumers and empowering California communities. HPP CARES CDE is at the forefront of helping people of color become partners in our mission to reduce income and wealth inequality and build stronger futures for all minority groups.