Walmart And Others Offer Workers Payday Loan Alternative
When lower-income working Americans have an unexpected expense, many turn to high-cost loans and get in financial trouble. More employers are giving them a much cheaper way to get emergency cash.
Even in a strong economy, many Americans live paycheck to paycheck. Forty percent don't have $400 to cover an emergency expense, such as a car repair. And many working-class people turn to payday loans or other costly ways to borrow money. But more companies are stepping in to help their workers with a much cheaper way to get some emergency cash.
Startup companies that offer better options for workers are partnering with all kinds of businesses — from giants like Walmart to little fried chicken restaurants.
"This is where it all happens; this is kitchen here," says cook Keith Brown as he walks past the ovens and big bowls of flour
