Photos by Mark Richards for Al Jazeera America
The tales and images for Payday Nation had been produced and reported in collaboration aided by the Stabile Center for Investigative Journalism at Columbia University in ny.
Posted on June 17, 2014 tuesday
UPPER LAKE, Calif. ВЂ” The whitewashed, one-story workplace simply off CaliforniaвЂ™s Highway 20 doesnвЂ™t appear to be much.
But the building is listed since the target of at the very least four thriving monetary enterprises. They truly are area of the multibillion-dollar industry of payday loans online: short-term loans all the way to $1,000 which can be wanted by low-income people whoever credit that is bad them therefore in need of a advance loan they are going to accept interest levels that may go beyond 400 percent.
And itвЂ™s no coincidence that the structure that is same houses any office of the tribal council associated with the Habematolel Pomo of Upper Lake. The Native American tribeвЂ™s lending enterprises have actually names like Silver Cloud Financial and hill Summit Financial, showing the indigenous American history regarding the rancheria, as they settlements are known as. The U.S. Federal government established them for landless Indians in California into the very early century that is 20th but unlike reservations, an individual rancheria include users of numerous tribes.