More than 50% of Memphians have credit scores below 633 and have less than $400 saved for emergencies. This reality has many Memphians locked out of traditional banking systems and forced into payday loan rates as high as 459% when they are facing a financial crisis. Predatory lenders are strategically located in historically marginalized communities, such as Whitehaven, Orange Mound, Hickory Hill, and Frayser. Forward Memphis offers a pathway out of the cycle of predatory lending by providing free one-on-one personal financial coaching and access to up to $5,000, with no credit check, to working Memphians who need emergency financial assistance.

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