To: BUSINESS AND NATIONAL EDITORS
Contact: Stand Up Missouri , +1-573-889-9952, kip@standupmissouri.org
Coalition Aims to Protect Access to Safe and Affordable Lending Options in Missouri
JEFFERSON CITY, Mo., Dec. 7, 2011 /PRNewswire-USNewswire/ — Today, Stand Up Missouri, a non-partisan coalition which represents consumers, businesses, civic groups, and faith-based organizations from across the state launched its initiative to protect access to safe and affordable traditional installment loans and to oppose the Missouri Payday Loan Ballot Initiative. The coalition strives to educate Missourians about traditional small-dollar installment loans, which will disappear if the ballot initiative passes.
“Missourians are being asked to sign a petition for a ballot initiative that would cap lending rates. While the initiative is being reported as an effort to protect consumers from payday loans , it would actually restrict access to all small loans, including beneficial traditional consumer installment loans . These traditional loans help individuals and families get access to safe and transparent credit in a way that enables them to preserve their financial security,” said Tom Hudgins, CEO and Chairman of Stand Up Missouri. “These traditional loans also support small businesses by providing borrowers with the funds they need to purchase the businesses’ products and services. Stand Up Missouri is working to educate Missourians on the facts so they can make informed decisions and protect their best interests as the ballot petition travels throughout the state.”
Americans have relied on traditional installment loans as a safe and affordable option for personal and household credit for over 100 years. These loans, which are not payday loans, have historically given Missourians the ability to build financial security and to help individuals and families
Click here to view rest of article from original site
|
|
|
