Micro Loan Program
A nonprofit fundraiser supporting
Society St. Vincent de Paul -Fort Worth CouncilSystemic change program to stop the Cycle of Debt and to empower people to find financial security.
$1,700
raised by 7 people
$25,000 goal
1 day left
A systemic change project of the Society of St. Vincent de Paul Ft.Worth Council, the goal of the Micro Loan Program is to help people get their finances back on track.
Whether they’re caught in cycle of debt due to a payday or title loan, or if they have a unexpected emergency expense, it is possible to find a way out and feel more secure about one’s financial future.
The micro loan program offers the possibility of converting extraordinarily high loans to a loan with a local financial institution, where the SVDP FWe Council provides the collateral. With a very low interest rate, currently at 3%, the loan is paid back over a 12, 18, or 24 month period.
In addition a bonus of 10% of the loan amount is given if the borrower attends financial education classes and/or receives financial coaching and pays off the loan in a timely manner.
Your donations will help provide the collateral needed for our Micro Loan Program. Help us help our neighbors to end the cycle of debt!!!