This paper examines small-dollar credit alternatives to the current payday-loan
product in the province of Alberta. While we recognize that most people
have credit requirements from time to time, the unbanked and underbanked
who can least afford to do so are forced to obtain credit under the most
unfavorable terms. This needs to change. We believe there is a role to be played
by all three levels of government, as well as by investors, philanthropists, financial
institutions, community-based lenders, employers, social enterprise and, with
modification of the current business model, payday lenders.