Exodus Lending is a nonprofit organization based in Saint Paul, MN, dedicated to helping Minnesota families escape the cycle of predatory loan debt. Through their innovative predatory loan refinancing program, they provide financial stability by enrolling and supporting qualified participants, offering up to $1,500 at 0% interest. With a mission to end the payday lending cycle in Minnesota, Exodus Lending has successfully saved participants over $2 million and refinanced $636,907 in loans, empowering individuals to achieve long-term financial freedom.
By addressing the predatory and toxic impact of payday loans on communities, Exodus Lending aims to break the chains of debt that hinder individual financial well-being. With an average APR of 310% on predatory loans, their program significantly reduces this burden to 0% APR, allowing participants to pay off their loans over a 12-month period. Through financial counseling and support, Exodus Lending not only provides immediate relief but also helps individuals meet their savings goals, creating a brighter and more hopeful future for those affected by payday loan debt.
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