Imagine a Future without Predatory Lending

Our mission is to provide equitable financial services and programming as a pathway out of dependence on predatory loans —

but what does that mean?

That means that we have three primary goals:

Create ways out for borrowers stuck in super-high-interest predatory loan debt traps
Create alternative forms of consumer credit that are fairly priced, fully amortized, and reported to credit bureaus — i.e. payments that borrowers can afford, payments that actually pay down the loan, and payments that help build credit
Create supplementary financial fitness and educational programming that helps set people up for future financial success

We want our clients to outgrow us and be prepared to access cheaper, conventional finance.

We aim to demonstrate a model that is replicable anywhere where payday, title, and flex lenders are.

How do we do it?

As a nonprofit…

BetterFi is a 501(c)(3), so we have no shareholders. All earned revenue goes toward trying to make our model more economically sustainable.

As a CDFI…

BetterFi is a U.S. Department of Treasury-certified Appalachian Community Development Financial Institution (CDFI), which validates our work and commitment toward expanding financial access to underserved communities and populations.

By prioritizing clients…

Our primary service is affordable credit designed to help individuals get out of a predatory debt trap, but we also offer credit for unexpected expenses and now offer Savings + Credit Builder loans that can help people build toward a savings goal and build their credit before they need financing. To date we have disbursed more than $640,000 which equates to well over $1,650,000 in savings for our clients when compared with what they would pay on typical flex, title, or payday loans.

By structuring our credit to prioritize affordable and successful repayment, BetterFi works with our clients to meet their emergency liquidity needs, strengthen their financial fitness, improve their credit scores, and increase their future ability to utilize conventional financial services.

We also offer supplementary financial programing like coaching and free income tax filing, and we hope to unveil soon a web tool that will allow individuals to evaluate their cashflow and derive insights on things like spending.

More information is available by checking out our News page or subscribing to our newsletter.