Thank You to Our Supporters!

With a heavy yet hopeful heart, our Board President, Eric Howard, welcomes you to our virtual fundraiser, Ctrl+Alt+Del Debt with Exodus Lending. Our hope for this week is to reflect on this moment and invite you to help us create the world we deserve. Together, we can help thousands of families escape financial disaster and create an alternate reality. That's what our work at Exodus Lending, and our week-long Ctrl+Alt+Del Debt virtual fundraiser, is all about.

As members of Holy Trinity Lutheran Church in South Minneapolis, Anna Brelje, Allison Johnson Heist, and Meghan Olsen Biebighauser decided to take action after watching a payday lender opened nearby. They founded Exodus Lending in 2015 to help people get out of payday loan debt. Five years later, they gathered together again to reflect on our humble roots and historical growth.

Hope is powerful. It is a guiding light shining onward, a smoldering sense of potential, a deeply rooted belief in a better future. It is the constant yet quiet voice within us yearning for more. It is that same voice that firmly rejects the present world that tells us to accept and expect less. Hope is power. Exodus Lending knows this power burns bright in us all. And CNN's Courageous Studios, as part of a promotional campaign with MassMutual, captured perfectly the power of hope with this inspiring video about Andrea, one of our program graduates. Andrea's story is power. Andrea's story is hope. It is our honor to be a part of it.

Pragmatically, naming the problem is step one. Step two? Solving the problem. In the short term, our interest-free refinancing program solves the immediate crisis of payday loans for individuals. But we know refinancing isn't a long-term solution. A rate cap is. Exodus Lending advocates for a 36% interest rate cap on small-dollar loans. Legislation at the federal and state level would immensely help borrowers not just in Minnesota, but throughout the country and stop lenders from continuing their exploitation.

At Exodus Lending, we advocate for accessible, affordable, and non-predatory credit options for all Minnesotans. We are privileged to work with Representative Jim Davnie, Ron Elwood, and Heidi Durand to pass an effective interest rate cap of 36% for short-term loans. Together, we can protect consumers from unreasonable, outrageous, or predatory actions by lenders.

Exodus Lending is a community-driven solution to the crisis of predatory lending. Our innovative, interest-free refinancing program is possible because of donor and volunteer support from passionate Minnesotans like Barb and Bill Miller, Pam Blomgren, and Jeff Disch. While their anger about predatory lending first motivated their involvement to Exodus Lending, seeing firsthand how transformational our programming inspires them to stay dedicated to the cause.

Problems must first be named before they can be solved. That's why it is important for us to constantly speak up against the predatory nature of payday lending. The Pew Charitable Trusts does this simply, yet effectively, in this short video. The problem is the lenders. Any lending model that is dependent on extended renewals at exorbitant rates while promoting false promises of simple, straightforward, and short-term relief is unjust, unethical, and unacceptable. Payday lending a problem. And Exodus Lending is a part of the solution.

Exodus Lending is committed to centering and amplifying the voices of payday loan borrowers in our continuous fight against predatory lending. We are proud our Board of Directors has passionate people like Tonia Brinston, Sarah Schoolcraft, and Melissa Juliette. These three board members are all personally invested in the issue of economic justice and each desire to help people achieve financial stability. Music: https://bensound.com

Days, weeks, and months are blending together. But as the fight for justice in 2020 continues, we want to also reflect on our past. Since our earliest days, we could always count on our neighbors to support us. Many of you have been with us for years. Years! Thank you. We remain as grateful now for your support as we were back then, and to honor your long-standing generosity we are (re-)sharing this video made in partnership with Mary's Pence, another one of our long-time supporters. Together, we have come a long way. And, together still, we will continue onward, as we have quite a long way to go.