BMG Money Expands Into Alaska, Nevada & North Carolina

Latest expansion marks a new milestone for BMG Money, now operating in 42 states and the District of Columbia to help alleviate employee financial stress

MIAMI, FL, UNITED STATES, November 4, 2024 /EINPresswire.com/ -- BMG Money today announced it has expanded into three new states, including Alaska, Nevada and North Carolina, providing access to loan products for public and private sector employees made through the lender WebBank. This expansion marks a new milestone for BMG Money, now operating in 42 states and the District of Columbia.

Since 2011, BMG Money’s mission has been to help the increasing number of hardworking public sector employees trapped in cycles of predatory lending. In their time of need, many mistakenly turn to high-interest loans, worsening their financial situation. A nationwide issue, more than 12 million Americans take out a payday loan each year, resulting in more than $9 billion in loan fees.

As a result, individuals are coming to work more stressed than ever, impacting their own mental and physical health, as well as productivity levels at organizations. The U.S. Bureau of Labor reports that worker productivity has seen the sharpest decline in 75 years, and one in five employees say that productivity at work has been impacted by financial challenges.

To address this issue, BMG Money, a national financial technology firm committed to economic justice, provides access to innovative, socially responsible financing options. These solutions are offered to employees as a voluntary benefit through their employers. Trusted by a growing number of local, county and state government bodies as well as several of the largest privately held companies in the United States, BMG Money partners with over 100 public sector employers and local, county and state government bodies nationwide.

According to Kieran Noonan, President & CEO at BMG Money, “This latest expansion points to the growing need for better and safer financing options in times of emergencies. Consumer debt levels are at a record high, putting many individuals at the brink of a financial crisis. At the same time, half of loan applicants are being denied, forcing them to predatory lending options that put them at an even greater risk.”

Noonan continues, “BMG Money helps alleviate employee financial stress. We empower employers and government bodies to help their people solve a problem only they can fix, at no cost or risk. We solve employees’ financial difficulties by extending access to lending rates at less than one-tenth of the cost of many of the loans employees are mired in. As we continue to grow, we look forward to supporting more people and organizations in these states.”

BMG does not exclude employees based upon their credit scores and rates are comparable to credit cards versus the extremely high cost of predatory payday loans, which can see rates as high as 600% in some states. Employees can apply online, receive the funds within one business day, and repay the loan through automatic payroll deductions. There is no cost or risk to the employer to provide this benefit. Additionally, BMG's digital reputation is stellar, with ratings of 4.9-stars from TrustPilot, 4.7 on Google, and 4.9 on Facebook, as of October 31, 2024.

For more information about LoansAtWork, visit www.bmgmoney.com/loansatwork.

About BMG Money
Headquartered in Miami, FL, BMG Money has been safeguarding employees and retirees from predatory loans since 2011 and currently operates in 42 states plus the District of Columbia. BMG Money's mission is to enhance the financial wellness of underserved borrowers through a combination of financial education, credit monitoring solutions, and emergency loans, providing the tools necessary for a secure financial future. For more information, please visit www.bmgmoney.com.

Mary York
For BMG Money
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