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low-cost loans
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The Impacts of Individual and Household Debt on Health and Well ... apha.org Oct 25, 2021 9 facts
claimPublic health and health care sector leaders can partner with consumer protection organizations, community development agencies, and asset-building leaders to reduce overindebtedness by providing health-related justifications for increasing access to low-cost loans and protecting individuals from high-cost unsecured loans.
measurementIn 2020, 90% of White applicants for low-cost loans earning $100,000 or more received the loan they sought, compared to 70% of Black applicants and 79% of Hispanic applicants in the same income category.
perspectiveWhite residents in the U.S. have greater access to low-cost loans and credit from mainstream banks compared to Black, Indigenous, and other people of color (BIPOC), who disproportionately bear the burdens of high-cost loans, credit, and overindebtedness.
claimLower-income Black and Hispanic residents are unable to access lower-interest credit cards or low-cost loans due to having low or no credit scores.
claimLower-income Black and Hispanic residents with low or no credit scores are unable to access lower-interest credit cards or other low-cost loans.
claimLow-income Black and Hispanic residents are unable to access lower-interest credit cards or low-cost loans due to having low or no credit scores.
claimWhite residents in the U.S. have greater access to low-cost loans and credit from mainstream banks compared to Black, indigenous, and other people of color (BIPOC), who disproportionately bear the burdens of high-cost loans and overindebtedness.
measurementIn 2020, 90% of White applicants for low-cost loans earning $100,000 or more received the loan they sought, compared to 70% of Black applicants and 79% of Hispanic applicants in the same income category.
perspectivePublic health and health care sector leaders can partner with consumer protection organizations, community development agencies, and asset-building leaders to reduce overindebtedness by providing health-related justifications for increasing access to low-cost loans and protecting individuals from high-cost unsecured loans.