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Champaign-Urbana: Payday Lenders

By Dan Petrella/CU-CitizenAccess — This map shows the locations of payday lenders, consumer installment lenders and pawnshops in Champaign-Urbana as well as median household  income based on the 2000 Census.

These non-bank lenders often serve consumers who cannot qualify for traditional bank loans or credit cards and charge higher fees and interest rates. The average finance  charge for a payday loan in Illinois, for example, is equivalent to an annual percentage rate of more than 300 percent, according to the state Department of Financial and Professional Regulation.
As the map shows, the majority of these businesses are located in low- to moderate-income neighborhoods.

legend of payday and consumer lenders across Champaign-Urbana

 


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