Lewisville eyes community loan center concept as cash advance alternative

Lewisville eyes community loan center concept as cash advance alternative

The Lewisville City Council heard a presentation in workshop session Monday that is last night the proposition for making a Community Loan Center (CLC). A CLC would form teams employers within the town having a non-profit company to offer lower-interest loans as much as $1,000, reimbursed via payroll deductions.

The council has viewed managing the payday financing industry. But once they asked for options before continuing into legislation, Assistant City Manager Claire Swann placed the CLC concept as an option to payday lending that will never price the town almost anything to get going.