The MicroLoan program is designed to offer small loans of up to $1000 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 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.