Good Shepherd Microfinance, Australia’s biggest microfinance organization, has welcomed the Australian Government’s review into high price pay day loans and customer leases, better referred to as ‘goods rental’ or ‘rent to own’.

Through its system of 1,500 microfinance employees in 670 areas across Australia, Good Shepherd Microfinance and its particular community lovers hear firsthand the results of those high expense services and products.

Ceo, Adam Mooney, said “the big greater part of individuals on low incomes just can’t manage to be spending such reasonably limited for credit or a lease”.

“We are simply because the negative impact of pay day loans and ‘rent to possess’ is disproportionately affecting ladies who frequently check out the products as a result of earnings inequality and monetary exclusion,” said Mr Mooney.

“That is, being not able to work due to carer duties, being compensated less, or being underemployed through adjustable temporary casual or contract arrangements that are increasing when you look at the wellness, training and community sectors. Continue reading →