Your Money, Your Goals - A financial empowerment toolkit for social services programs.

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Business loan Borrow money to start or expand a
business. This will be an installment
loan. Equipment or other business
assets, or personal assets may be
pledged against the loan (collateral).
Mortgage Borrow money to build or buy a
home. This will be paid back in
installments. The home will generally
be pledged against the loan
(collateral).

Credit building products or services


Secured credit card Borrow money up to a limit that is
secured by a deposit. This deposit
acts as collateral if you do not pay
the credit card as agreed.
Credit building loan Borrow money specifically to improve
credit scores. This may be available
at banks or credit unions in your
community.

Other products or services


Small dollar /
Signature loan

Borrow small amounts of money.
Generally, the loans have to be paid
back quickly and the interest rate and
fees are higher than bank or credit
union loans or credit cards.
Payday loan Borrow small amounts of money. You
provide a check written for some time
in the future—generally two weeks. If
you don’t repay the loan and fees in
full, the lender can cash the check. If
your account does not have enough
money in it to cover the amount, you
may have to take out a new loan for
the amount you don’t repay.
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