There are thousands of Hoosiers who cannot receive services from banks or credit unions due to their
credit history. Personal loan providers work closely with residents who have imperfect credit to provide a
responsible loan designed for them.

Responsible personal loans are designed to provide financial stability and certainty during short
periods of need, not financial hardship. Responsible lenders assess a customer’s ability to repay
a loan and will not provide the loan if they do not believe the customer is able to pay it back.

If state laws are not set in place to allow for the ability of responsible lenders to provide personal loans,
thousands of Hoosiers stand to lose access to responsible credit options. This will create immediate
and unnecessary stress and hardship, and might cause residents to turn to unregulated, high-cost,
out-of-state lenders.