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Within the next several years, Denton may have a residential district lending center to counteract payday and name loan providers within the town.
The United method of Denton County respected the risks of pay day loans вЂ” tiny loans which can be reimbursed for a borrowerвЂ™s payday that is next high rates of interest. Organization leaders had mentioned creating a residential area lending center where residents might get short-term loans at a reduced interest, but didnвЂ™t understand if it absolutely was viable.
Compliment of a course at Texas WomanвЂ™s University that carried out an incident research in the proposed center, United Method may move ahead utilizing the task, on the basis of the reaction from the board of directors a few weeks, stated Gary Henderson, president and CEO regarding the United means of Denton County.