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Small Dollar Consumer Loans

For over a decade, RAISE Texas has been supporting the growth of affordable short-term loans and fighting the most harmful predatory practices of payday and auto title lenders. 

RAISE Texas stands with and supports the 46 cities that have passed local ordinances to rein in the harmful lending practices that create a cycle of debt.

Below is a partial list of small dollar loans available in parts of Texas. While these products are generally better options for consumers than payday and auto title loans, the rate and terms may have changed since our review. Always ask about APR, fees and repayment terms and read the fine print.  

Employer-Based Loans

Small Dollar Loan Options

  • RAISE Texas Resource: Better Short-Term Loans for Texans, July 2021.
  • Ask about small dollar loans at your bank or credit union.
  • Bank of America Balance Assist Loan: short-term loan up to $500 with $5 flat fee, must have been a Bank of America checking customer for one year.
  • Capital Good Fund: offers small dollar loan, immigration loan, and credit building loan.
  • CreditShop: offers small dollar loan through partnerships (SEIU, NEA).
  • Mission Asset Fund Lending Circles: groups of 5-12 invest a set amount on a monthly basis and each month one member is given a loan to pay back in monthly installments; also offers Immigrant Families Fund Grant.
  • Resource One Credit Union: offers several small dollar loan solutions, including Personal Loans, Fast Cash Loans and a Credit Building tool.
  • Self (formally Self Lender): offers credit building loan.
  • Society of St. Vincent de Paul: offers a Predatory Loan Conversion Program to help break the cycle of debt.
  • University United Methodist Church (Austin):  offers no-interest microloans of up to $1,000 to help individuals grow or stabilize a small business based in Austin.
  • Woodforest Bank: offers unsecured revolving lines of credit, including Unsecured ReLi for individuals and Business ReLi for businesses.