Arizonans for Responsible Lending, the coalition leading the fight against Proposition 200, will hold a rally Thursday morning to oppose the initiative, which seeks to keep payday lending legal in Arizona by instituting changes to the system such as lower interest rates and restrictions on the number of loans a single borrower can take out at once.

The rally, set for 11:30 a.m. on the Arizona Capitol Mall, will feature "speakers, prizes and snacks," according to a press release from the Arizona Democratic Party.

The No on 200 campaign is struggling in the face of a tremendous funding disadvantage. Proponents of the proposition have spent nearly $100 for every dollar its opponents have, topping $10 million in expenditures - the largest amount, by far, spent by any campaign in Arizona in 2008.

Those in favor of Prop. 200 say payday lending provides a useful service, and the proposed reforms will help make the system more fair. The Arizona Democratic Party and the coalition standing against the initiative, however, think the reforms fall far short of what would be necessary to make payday lending fair.

If the initiative doesn't pass, the law that made payday lending legal in Arizona will sunset in 2010, ending the practice in the state.