An Unlikely Solution
Native American Tribes and consumers without access to traditional avenues of credit have been united by the Internet in a unique partnership.
Native American Tribes have founded online lending businesses as virtual vehicles to create jobs and fund essential social services for their members, often in remote areas with stagnant economies and high unemployment. And the lending product they are delivering to Americans in need – the online installment loan – is a major innovation in consumer finance.
Online installment loans are a customer-driven evolution away from the two-week payday loan typically offered at brick and mortar storefronts across America.
“Let’s put our minds together to build more economic opportunity in Indian Country — because every American, including every Native American, deserves the chance to work hard and get ahead…,”
— President Barack Obama, June 16, 2014