James Gutierrez’s Aura, Oportun Provide Low-Interest Credits To Middle Class

James Gutierrez, one of American’s renowned social entrepreneurs has raised his voice on several occasions on the need to close the gap between the rich and the poor in one of the world’s largest economies. According to James Gutierrez, there is a need for the federal and state governments to come up with modalities and policies that will enable the middle-income earners to access loans easily. According to James Gutierrez, as things are, “It’s very expensive to be a poor person in the U.S.” Gutierrez’s words may look like a funny riddle but he goes ahead to argue his point.

“If for instance one takes auto insurance, you will realize that there are two types available – the non-standard and of course the standard. Many people deserve the former. This type of insurance is usually given to many people who do not have the needed credit scores, the right scores or even don’t have or own a driver’s license. If all these are true, then the person ends up paying a lot more.” In other words, James Gutierrez says, “People who intend to acquire a loan must have a ‘sparkling’ credit history. Without this, you may get a loan but you will realize that the interest rate would be up there.”

Gutierrez goes on to unleash even shocking news when he quotes the report by the Federal Reserve that was released sometime in 2018. According to the report, one percent of America’s wealthiest individuals own 30% of all the country’s wealth. As if that is all, Mr. Gutierrez adds, “If you make the number to 10%, it is even worse. You will realize that this small percentage actually owns almost twice what the rest of the Americans have.” From that alone, it appears that the small number of wealthiest Americans own almost everything the poor have. However, James Gutierrez believes that by allowing firms like Aura and Oportun to continue to serve the low-income earners, the gap between the poor and the rich will be sealed gradually.

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