The MicroLoan program in Licking County, Ohio, is designed to offer small loans of up to $1000 to residents of Licking County that are repaid by the borrower at a very low interest rate.  Eligible expenses include:

• Car Repair

• Education Expense

• Pay off High Interest Loan (Predatory Loan)

• Security Deposit

• Medical Expense

• Emergency Home Equipment Expense (unlivable situation - furnace, water heater, etc.)

• 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 are a resident of Licking County, Ohio, and would like to consider getting a MicroLoan, please call 740-527-3395 to set up an appointment or meet with a volunteer from St. Vincent de Paul.

For more information, go to www.svdpcolumbus.org/microloan_mission or email:  svdp.microloan@gmail.com.