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Alternative Lending

The Military Lending Act – Consumer Protection Lending Law

  The Department of Defense recently passed a revamped version of the Military Lending Act (MLA), which will make it more affordable for active military and their family members to borrow money. The Military Lending Act can really benefit service members and their families, so it is important that more […]

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Microloans vs Collateral Loans – Which is better for me?

Many banks aren’t lending money to smaller businesses like they used to do. As a result, many entrepreneurs and small business owners are turning to alternative lending options, such as microloans and collateral loans. What are Collateral Loans? Collateral loans require borrowers to provide property or other assets – like […]

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Millions of Americans Still Don’t Have a Bank Account

The most recent FDIC Annual National Survey of Unbanked and Underbanked Households shows that a large number of Americans still don’t have access to the financial system. This is why short-term lending services like The Provident Loan Society of NY are still essential services in our community. The latest FDIC […]

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