We are committed to eradicating the impact of predatory lending in Macon County.
At Northeast Community Fund, we often serve the most at-risk and in-need individuals and families in our community.
Many of our families who are most in-need are also most at risk of becoming victim to payday or car title loans. With interest payments as high as 400% APR, these families are often facing financial desperation. Paychecks are often going toward interest payments on predatory loans with little left for food, shelter and clothing.
We are dedicated to helping at-risk families in Macon County transition from poverty to self-sufficiency. So, we created the Micro-Finance Program to assist individuals to escape the cycle of payday lending and gain financial knowledge for the future.
What does the Micro-Finance Program include?
- A no-interest loan to assist with paying off all or some of the payday or title loan
- On-going, intensive one-on-one financial counseling
- Financial and spiritual support and guidance
- Referrals to other social service agencies for additional support
- Hope to get out of financial desperation and work toward self-sufficiency
Do you know an individual who has a payday or car title loan and they need a pathway to hope?