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Anyone who has relied on a payday loan to survive until their next paycheque knows how easy that can push a person further into debt.

Often, families don’t have enough time to get the money together in the two weeks usually required to pay back the loan and are dinged with extra fees and high interest rates.

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This system can create a vicious cycle in which more loans are taken out to repay previous loans, keeping families in poverty.

In an effort to break families out of the cycle and prevent others from falling into it, Affinity Credit Union, with the help of United Way Regina, launched a new program Thursday called the Restart Loan.

Similar to a payday loan, those who apply often get their loan within an hour, but have two to 24 months to pay it back at lower interest rates.

“One thing that we know about poverty in Saskatchewan is that people tend to be staying in it longer than they have in the past,” said Kristen Nelson, associate director of community impact for United Way Regina.