Liz: All right, sounds good. Hey, Annie, thank you for visiting the show.
Annie Millerbernd: happy become right here. Thank you for having me personally.
Sean: Hey, Annie. I’d like to set you right up here. Our listener Michelle has to fix her automobile, but sheвЂ™s quick on money along with her credit just isn’t right that is great. SheвЂ™s hoping to get a little personal bank loan to pay for the fee, but sheвЂ™s not sure this is the most suitable choice. So to start out, are you able to explain just what a small-dollar loan is and how it is distinct from other types of loans?
Annie: Small-dollar loans are loans typically under $2,500. Usually, theyвЂ™re a hundred or so bucks to a couple thousand bucks, and since they have actually the tiny quantity, banking institutions and reputable on the web loan providers donвЂ™t typically offer them вЂ” itвЂ™s difficult in order for them to cause them to lucrative.