JACKSON, Skip. — To drive straight straight straight down Ellis Avenue, simply off the interstate, would be to go to a haven of effortless cash. Along a four-block drag of take out joints and half-empty strip malls, the payday lenders are loaded in tight. The names to their fluorescent indications melt into each other: Paycheck Loans, Advance America advance loan, Speedee money, Payroll Advance, money Flash, money Depot, money Connection, E-Z Check.
Mississippi, the poorest state when you look at the country, has more payday lenders per capita than somewhere else in the usa, and folks here have actually less usage of old-fashioned banking institutions compared to virtually any state. But a partnership that is innovative the Mississippi Center for Justice, banking institutions and companies is helping provide the state’s residents usage of accountable small-dollar loans, along with free economic training and an alternative way to begin building savings and credit.