Provident Loan Society
| Company type | Nonprofit organization |
|---|---|
| Industry | Lending |
| Founded | 1894 in New York City |
| Headquarters | New York City |
Key people | Founders included Robert W. DeForest, Cornelius Vanderbilt II, J. P. Morgan, Jacob H. Schiff |
| Products | Collateral Loans |
| Website | providentloan |
The Provident Loan Society of New York is a not-for-profit organization headquartered at 346 Park Avenue South on the corner of 25th Street in the Rose Hill neighborhood of Manhattan, New York City. It was created in the 19th century by a group of influential New Yorkers as an alternative to the loan sharks of the day. Founders include Robert W. De Forest, James Speyer, Otto T. Bannard, J. P. Morgan, Jacob H. Schiff, August Belmont, Jr. and Cornelius Vanderbilt II.
Today, Provident Loan Society of New York provides short-term cash loans to individuals secured by gold and diamond jewelry, fine watches and silverware and is America's last remaining not-for-profit loan society created during the economic crisis of the late 19th and early 20th centuries.