A Case Study of the Community Loan Center Small Dollar Loan Program
"For households without adequate savings, affordable small-dollar credit can be a lifeline in times of financial need. Credit is essential for bridging temporary cash flow gaps or for weathering short-term emergencies. Thirty-seven percent of households would struggle to cover an unexpected $400 expense with cash or an equivalent, instead needing to borrow money or sell belongings to cover the cost (Board of Governors of the Federal Reserve System 2024). The lack of emergency savings underscores the financial vulnerability many American households face."
Read the Full Report from the Urban Institute
