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Combatting predatory lending is our primary focus. We have created a product called the Helping Hand Loan™, an installment loan that helps consumers break the payday loan cycle. We attempt to ensure that the monthly payment is no more than 5% of the borrower’s monthly gross income. The interest rate is capped at 36% APR.* This combination of a lower rate, longer term (average 6 months, maximum 1 year) and smaller payment eliminates the need for countless rollovers, which is the primary reason why payday loans have become so predatory in nature.
*APR = Annual Percentage Rate
Lean on us.
We know that life happens. So when you need cash in a pinch, you can count on us to help get you back on track.
Helping HandTM Installment Loan
• Borrow up to $1,000
• Friendly repayment terms based on the amount borrowed
• Low cost: 36% APR*
• No prepayment penalties or hidden fees
*Annual Percentage Rate. Loan funding requires verification of application information. All loans subject to approval pursuant to standard underwriting criteria. Payment example: A $500 loan at 36% APR for 6 months would be $92.30 per month.
Note: Our service area is defined as St. Louis City and St. Louis County. In order to be considered for a RedDough loan, you must meet at least two of the following three criteria: 1) Live 2) Work 3) Bank in St. Louis City or St. Louis County.