The Russell Sage base starred a central character in effort to reform buyers credit at the beginning of the 20 th century. 4 the inspiration earliest supported facilities of semi-philanthropic and cooperative credit associations. It soon stumbled on realize demand for little financing ended up being big, but semi-philanthropic and cooperative lending associations cannot attract adequate funds to fulfill need. Knowing the relatively large price of tiny financing, the building blocks determined that appropriate interest must be sufficient allowing dealers to make a competitive return on invested money. This realization prompted the Russell Sage Foundation to play a leading role in the drafting of a model small loan law, which was completed in 1916. Continue reading “From all of these smaller loan companies, the consumer finance business surfaced”