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'Overwhelming' interest in new alternative to payday loans
Posted: Jan 07, 2017 5:30 AM ET
Organizers of a new program helping people get off the payday loan cycle of debt have been inundated with applications from Ottawa residents.
"It was quite overwhelming," said Doug Pawson, with the Causeway Work Centre, a non-profit community group in Ottawa..
"We received a lot of inquiries and it's been challenging to figure out who could we serve and who we can't."
The Causeway Work Centre launched the new program in November, working with three credit unions in Ottawa to create a $100,000 fund, offering up small loans at low interest so people can avoid payday loans, or pay off their current debt.
...
"It was quite overwhelming," said Doug Pawson, with the Causeway Work Centre, a non-profit community group in Ottawa..
"We received a lot of inquiries and it's been challenging to figure out who could we serve and who we can't."
The Causeway Work Centre launched the new program in November, working with three credit unions in Ottawa to create a $100,000 fund, offering up small loans at low interest so people can avoid payday loans, or pay off their current debt.
...
http://www.cbc.ca/news/canada/ottawa/causeway-financial-fund-alternative-payday-loans-1.3925469?cmp=rss
'Bout time!