The characteristics described above will make loans that are small safer compared to those available from payday along with other nonbank loan providers.

Underwriting

As highly controlled organizations, banking institutions and credit unions engage in underwriting to ensure these are typically lending in a secure and sound way. The underwriting requirements for small-dollar installment loans should be carefully tailored in order that these loans could be competitive with additional high priced choices such as for example payday, car name, or rent-to-own loans. Read more