The rest goes to Think Finance and other third parties. That appears to be relatively generous, as far as such arrangements go.
Another Native American tribe has a revenue-sharing agreement with a different lending platform that gives the tribe just 1 percent of the profits, according to Bloomberg. Although the Chippewa Cree have made millions of dollars, the arrangement hasn't sparked broader economic development on the reservation. Think Finance has exceeded the commitment it made in its agreement with the tribe to employ personal loan interest rates by banks least 10 tribal members: The call center on the reservation employs approximately 15 people.
But even doing more than the deal calls for hasnt done much to alter the tribe's economic picture -- the unemployment rate has remained unchanged at around 60 to 70 percent. Plain Greens contribution to employment on the reservation is also far below its potential.
Accounting records filed in tribal court show that Plain Green spent approximately 3. 6 million in 2013 on off-reservation call-center services to companies based out of Georgia, Pennsylvania and Texas.
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