From all of these smaller creditors, the buyer finance markets surfaced

From all of these smaller creditors, the buyer finance markets surfaced

The Russell Sage base played a central character in efforts to reform customer lending early in the 20 th 100 years. 4 The foundation very first recognized establishment of semi-philanthropic and cooperative lending establishments. It quickly found know that demand for tiny loans is fantastic, but semi-philanthropic and cooperative lending associations cannot attract enough capital in order to meet requirements. Acknowledging the fairly high cost of small loans, the foundation figured appropriate interest must be satisfactory to allow buyers to earn an aggressive return on invested investment. This realization prompted the Russell Sage Foundation to play a leading role in the drafting of a model small loan law, which was completed in 1916.

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