More than 10% of U.S. adults relied on loans to cover expenses this spring according to the Census Bureau’s latest Household Pulse survey. That’s an increase of 34% from last year.

Many are borrowing from friends and family when traditional bank loans are unavailable.

Pigeon Loans co-founder Kaben Clauson discusses the company’s tools for managing interpersonal loans with rescheduling and legal tools to make personal loans easier and possibly less awkward.

This segment aired on KTLA 5 Weekend Morning News on May 15, 2022.