While AABC and its partners are doing all they can about payday loans, we realize there continues to be a significant need for small dollar loans for those with less than perfect credit. AABC through a “Challenge Grant” from the FORD foundation will partner with its close partner the NRS Community Development Federal Credit Union to design a pilot lending program for this target segment of the community. This product will offer substantially lower interest rates than the payday lenders and reasonable repayment terms payable in installments. 50 loans up to $500 will be made through a referral network of AABC partners and a research paper will be written on the results of the pilot. If it is successful, this template will be used as a best practices model for other credit unions and small dollar lenders within the state. The program will be implemented during the 1st quarter of 2014.