MicroLoan Program

The MicroLoan program is designed to offer small loans of up to $500 that are repaid by the borrower at a very low interest rate.  Eligible expenses include:

  • Car Expenses
  • Education Expense
  • Health Expense
  • Emergence Home Equipment Expense (unlivable situation)
  • Other Extraordinary Expenses. (loans are not made for regular living expenses)

Repayment of the loan helps borrowers establish or improve their credit score/history.

The MicroLoan program can serve as a good alternative to predatory lending companies that charge a very high interest rate and can trap the borrower in a cycle of debt.  Financial planning training is required to help the borrower establish a budget and manage money more effectively.

If you would like to consider getting a MicroLoan, please call the SVDP helpline at 349-0989 to set up an appointment to meet with a volunteer from St. Vincent de Paul.

For more information, go to www.svdpcolumbus.org/microloan_mission