850 38 program trifold brochure.pdfsociety of st. vincent de paul diocesan council of dallas 3826...
TRANSCRIPT
Hard-workingpeople,strugglingtopaytheirbillsbecauseofpaydayand
auto-titleloanpayments.
WECANHELP.
Qualifications
• SourceofIncome• Haveacheckingaccount• Agreetoelectronicfundstransfer
AddedBenefits
• Savingsaccount• Financialcoaching•
Certificate of completion awarded toparticipant when loan is paid off alongwith$50depositedintosavingsaccount.
We’reHeretoHelpFormoreinformationpleasecontact:
SocietyofSt.VincentdePaul
DiocesanCouncilofDallas
3826GilbertAve.
Dallas,TX75219
Assistancehelpline:469-607-0909
THESOCIETY
8,000HomeVisits850VolunteerMembers
38conferencesinninecountiesofNorthTexas
MINILOANPROGRAM*
106miniloansgranted167payday/titleloansconverted359%APRaverageforpredatory
loanconverted
WORKINGTOGETHER
PayoffpredatoryloanDebtrecovery
Savings*2015-16
Ourmissionistoprovideaninnovative,holisticend-to-endprocessprovidingrelieffrom
predatorylenders.
TheSocietypartnerswithparticipantstoconvert
predatoryloansintoalow-interestloanforaperiodof12-
months.
ThisProgramspeakstothevisionofendingthecycleofpovertythroughsystemic
change.
MiniLoanProgram
Society of St. Vincent de Paul, © 2016
The Mini Loan Program
January 2017
12 months of payments, financial coaching along the way, loan payment assistance if needed.
Loan paid off! $50 into savings, improved credit score, avoiding the poverty sinkhole!
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Pathway Out Of Poverty
A call for help with late rent payment
SVDP Volunteers conduct home visit and uncover predatory loan
MLP Coach screens and analyzes their budget
MLP CommiOee reviews, recommends approval
Approval submiOed to bank to initiate loan as co-signer with collateral account
Participant and MLP Coach go to bank to sign low-interest loan, pay-off predatory loan, establish automatic EFT payments