CFGC x Scenic Roots: BetterFi’s Relief From The Debt Spiral Of Payday Loans In Rural Tennessee
Grundy County - an hour northwest of Chattanooga - has one of the highest percentages of payday loans in the State of Tennessee. BetterFi is a local nonprofit in that county - based in the town of Coalmont - that aims to “end predatory lending one loan at a time” by refinancing those loans and educating people about debt, saving them money and improving their credit. Spike Hosch is founder and executive director of BetterFi. Barry Large is an investor and entrepreneur here in Chattanooga who has supported BetterFi’s work.