There are few affordable short-term, small-dollar credit products in the marketplace that meet borrowers’ immediate needs and that help put them on a path toward financial prosperity.

Low-income underbanked consumers typically lack sufficient savings to cover short-term needs or unexpected expenses—let alone to build a nest egg for longer-term goals.

An estimated 30 to 40 million American households are financially underserved. They lack access to the financial products and services that enable them to save, build assets, and achieve financial prosperity.

Low-wage immigrants are a particularly hard-to-reach segment of the underbanked population.

A credit score affects virtually every aspect of a person’s financial life—from buying a home or starting a business to the interest rate on credit cards.

A unique model for regional, employer-based collaboration to increase the usage of basic financial services has emerged recently in Minnesota, with relevant lessons for companies, communities, and advocates nationwide.

This research paper explores the mismatch between the consumer needs of low-wage immigrant unbanked and underbanked populations and existing financial products and vendor strategies.