⏰ From the Field: Where BetterFi is and Where We’re Going
BetterFi Summer 2026 Field Report & Updates
BetterFi is a 501(c)(3) nonprofit economic justice enterprise and CDFI dedicated to transforming consumer credit in Tennessee to be more fair, more accessible, and a pathway out of predatory lending. More at www.betterfi.co.
💸 📊 Grundy Closed, but Impact is Up
Earlier this year we made the difficult decision to close our Grundy office, consolidating operations in Chattanooga as we press on toward viable scale. Annual disbursals out of the Grundy office plateaued at approximately $150,000 per year – plenty enough to sustain a predatory lending operation, but far from sufficient to sustain our work while charging reasonable and fair rates.
Prior to February, loans to Hamilton residents were disbursed out of our Chattanooga office, while disbursals across the rest of our state originated in our Grundy office. Even with the Grundy office closure, Grundy residents still represent our second largest client geography.
Cumulatively, BetterFi has now disbursed nearly $1,300,000 across more than 650 loans, equating to savings for our clients ofmore than $3,100,000 compared to what they would have paid predatory lenders.
For our typical client,that means an average savings of approximately $4,750.
With a typical monthly income of $2,167, that's more than two months of income returned to our clients.
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A large spike in applications from media coverage by Fox 17 Nashville last year gave us an anomalous boost, but "top of the funnel" client acquisition remains our largest hurdle. Chattanooga applications and disbursals continue to trend upward steadily, and our monthly disbursals have finally reached the levels we saw following the Fox 17 coverage.
Alongside deployment of additional credit products like our credit builder and microbusiness loans, we are beginning a campaign to enlist small-dollar donors who will commit as sustaining partners.
Our model is working, but reaching scale takes time. We are helping people escape predatory debt and saving clients thousands of dollars. The challenge now is reaching the scale where we can sustain and expand that work.
That is where monthly supporters make a difference.
A small, recurring gift gives BetterFi something we can count on as we grow. It helps us build toward a future where fair credit is a permanent alternative to predatory lending.
If BetterFi's work matters to you, consider becoming a sustaining partner. Even a small recurring gift helps us plan for the future and get one step closer to sustainability.
🗣️ What our Clients are Saying
"I had been paying on a $500 loan for the last three years, and with BetterFi that same loan was paid off in 6 months."
"...this company really cares about people..."
"...they treated me with dignity & respect..."
"The highlight of my journey has been working with caring, knowledgeable, and dedicated staff..."
"DON'T GO TO THOSE PAY DAY LOAN COMPANIES!"
💥🔨 Is it 1984?
Trying to convey BetterFi's value proposition to prospective clients is hard to do in 15 or 30 seconds – previous infomercials give the basics of our programs and warn against high-APR flex loans, but we are trying a different tack with our newest one.
Inspired by Apple's "1984" commercial, we hope this new spot taps into the underlying feeling of being trapped in a predatory loan.
Watch Anna smash "EZ KWIK LOANS" here.
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Partnering with Giving Credit
Another exciting update is BetterFi's new partnership with Giving Credit:
Giving Credit is pioneering an alternative credit report that reflects peer-to-peer and informal borrowing that might be missed by traditional credit reports.
BetterFi applicants with a Giving Credit Report will be able to share their alternative credit history to strengthen an application, and we will also enable current clients to report their BetterFi credit history to Giving Credit's platform.
Read more at betterfi.co/giving-credit.
Winny holding down the hydration station!
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BetterFi on the Ground
Finally, we are showing up wherever we can to share our finance and credit tools.
BetterFi joined LAUNCH, Urban League of Greater Chattanooga, ArtsBuild, and Chattanooga Business Elite for a Juneteenth celebration at the Kitchen Incubator of Chattanooga, as well as back-to-school events for Hamilton County and in Nashville.
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We finally uploaded our past "infomercials:"
As always, thank you for your support and partnership.
To those who have given and those who continue to give, thank you. Every loan refinanced gets us closer to sustainability. We do not take your support for granted.
If you would like additional information, please do not hesitate to reach out.
Spike Hosch
Executive Director
BetterFi
spike@betterfi.co
Follow us online for more updates:
Reach us at:
423-299-4033
hello@betterfi.co