MOORHEAD — The two cash advance or short-term customer loan providers in Moorhead could be facing added limitations as time goes by.

Moorhead City Council user Heidi Durand, who labored on the matter for many years, is leading your time and effort whilst the council considers adopting a brand new city legislation capping rates of interest at 33% and limiting the number of loans to two each year.

In a hearing that is public Monday, Sept. 14, council users indicated help and offered commentary on available alternatives for anyone in a financial meltdown or those in need of assistance of these loans.

Council user Chuck Hendrickson said he believes options have to be provided if such loans are not any longer available. He urged speaks with banking institutions about methods people that have no credit or woeful credit could secure funds.

Durand stated this kind of town legislation is the start of assisting those who work in monetary straits, and nonprofits, churches or Moorhead Public provider could offer options to also assist residents settle payments.