In 2018, the United States Federal Reserve announced on its website that the gap between the poor American citizens and the wealthy minority was deepening. Although many people were shocked, the announcement did not take James Gutierrez by surprise. For many years, James Gutierrez and his colleagues, proponents of efforts to breach the ever-increasing gap have been looking for viable means of ensuring the gap does not exceed what the current figures show. According to that report, one percent of all the wealthiest individuals own and actually control nearly 30% of all the wealth in the United States.
As if that is not enough, the report went further to break down that if you’d take only ten percent of the wealthiest class, then you’d realize that although the number of those wealthy individuals is small, it owns nearly two times what the rest of the people own. That means 10% own nearly two times what the rest 90% have. Such statistics affect people like James Gutierrez to the core. For a long time, James Gutierrez and people of like-mind have been fighting for viable policies that allow the low-income persons access to loans that come with low interests. Although their fight is bearing fruit, James says a lot more needs to be done whether on the federal level or at the state level.
For now,Gutierrez is using his startups, Oportun and Aura to make it possible for low to middle-class earners to access loans that his startups give at low interests. Besides, James Gutierrez gives clients reasonable repayment plans, enabling the low-income earners to process, take, and repay the loan without feeling the burden. One of the facts James has learnt along the way is that it is actually extremely expensive for one to be poor in American soil. “A poor person ends up paying a lot than the rich,” says Mr. J. Gutierrez
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