Founded in 1927, the FFSA is dedicated to improving knowledge of non-bank credit, and how it can increase financial capability and drive prosperity in Florida.
Consumer Finance companies (installment lenders) make 3 million more loans per year to borrowers with FICO scores under 650 than Banks and Credit Unions, nationally
Consumer finance lenders make a majority (65%) of the loans to Americans with credit scores less than 650 and the largest plurality of loans to those with credit scores over 650.
21 (32%) of Florida’s 67 counties are considered credit-insecure --communities with high concentrations of residents but no or low ability for them to obtain credit at choice. 9 counties are in the next lowest tier and getting worse not better.
Without access to safe affordable loans designed for repayment, these Americans are forced to use less safe or illegal sources which result in a cycle of debt
Happy Birthday to a Champion of increased access to responsible lending for Floridians, Speaker @Paul_Renner! Thank you for all your hard work to make Florida better for business!