Is it legal for a 501c3 to make payday loans to members?

Hello gift:

Sure.

excon

Legal perhaps, but not advised, but the board of directors will have to approve this use of funds. But the interest would not be tax exempt, so the non profit will have to pay taxes on money received that is taxable income. Also there would have to be strict enforcement of non payment. I doubt the CFO or accountants for a group would ever recommend it, or approve it.