Brightpoint (previously Community Action of Northeast Indiana or CANI) announced today this is certainly has gotten almost $1 million in financing from JPMorgan Chase & Co. to grow its customer loan system. Brightpoint received this honor as an element of a $5.1 million grant to the grouped Community Loan Center Coalition of Texas and Indiana.
вЂњThe function of this grant is always to spend money on a company based, tiny buck loan system that may provide an substitute for payday lending,вЂќ reported Brightpoint President/CEO Steve Hoffman. вЂњThanks to your funding that is generous JPMorgan Chase, Brightpoint should be able to help to keep more bucks within the pouches of families within our community.вЂќ
In Indiana, payday lenders cost customers over $70 million in costs yearly.