The tribe partnered with Think Finance and renamed its lending company Plain Green. The tribe would own 51 percent of the company, and Think Finance would own 49 percent.
The new venture would payday loans killeen tx installment loans, a term the industry prefers to use instead of payday loans. Like traditional payday loans, installment loans are small loans with high interest rates that often trap borrowers in a morass payday loans killeen tx debt. Unlike traditional payday loans, they are paid back over time periods longer than a single pay cycle. Plain Green says its minimum repayment cycle is four months. Ten months after Plain Green started making loans, Think Finance lauded the venture in a blog post as a big win for both consumers and the Chippewa Cree.
Dozens of tribal members are employed by Plain Green and every tribal member has already received a payment based on the success of the product. The tribe has even been able to rebuild a baseball field with revenues generated by Plain Green, the post said.
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