Looking for a fair, low-cost loan? Our partner agencies offer affordable alternatives to expensive payday and auto title loans.
Capital Good Fund
Offers a variety of low-cost loans to fit your needs:
- Crisis Relief Loan: $300 to $1,500 at 5% annual percentage rate
- Immigration Loan: $700 to $20,000 at 15.99% annual percentage rate
- Credit Builder Loan: 0% loan reported to all three credit bureaus to help you build credit; make 12 monthly payments of $5
Society of St. Vincent de Paul
Offers two types of low-interest loans via their Mini Loan Program. To qualify for these loans, you must have a current income and a bank account with direct deposit.
- Predatory Conversion Loans: Designed to pay off payday and auto title lenders by allowing you to convert to a low-interest, loan amount up to $4,000.
- Emergency Loans: Loans of $500 to $2,500 for major financial needs such as vehicle repairs, urgent home repairs, appliance purchases, apartment deposit, medical bills or funeral expenses.
Both loans are offered at 3% APR for a period of 12 months with no penalty for paying off early.
Loan requirements: a reliable and documented source of income for a minimum of 6 months with direct deposit, a bank account or eligible debit card, and a willingness to receive financial coaching.
Alternatives to Payday and Auto Title Loans
In partnership with the Texas Fair Lending Alliance, RAISE Texas now offers consumers better options for accessing cash than predatory payday and auto title loans:
- Click here to find small-dollar loans (up to $2,500). These loans are accessible to Texans with lower credit scores or no credit and have an APR that does not exceed 35%.
- Click here to view RAISE Texas’ handout on other options for quickly accessing cash that aren’t payday or auto title loans.
- Community Loan Center: Employer-based small-dollar loans
- NOVA: Facilitates access to credit, mobile phones, student and auto loans for immigrants without a U.S.-based credit history
- On the Road Lending: Affordable loans for reliable cars
- Petal: Offers no-fee credit cards using cash flow underwriting and serving consumers without established credit history
- Self.: Helps individuals build credit while saving money by offering 12- to 24-month installment loans, with no credit history needed
- SUSU: Reports rental payments to help build credit and provides rental relief