2015 was a year of progress and growth. We have new programs in the works. We have close to $540,000 lent to Northeast Ohioans assisting them to overcome hurdles, pursue education and start businesses.
With help from The Business of Good Foundation we have successfully made over $60,000 in loans helping people escape predatory lenders (we have seen predatory lenders charge rates as high as 780%).
We made our first loan to help a senior stay in her Buckeye home with the help of funds from the Charles & Helen Brown Memorial Foundation. These funds help people that have been cited through Cleveland Municipal Housing Court.
We have received generous grants this year from several foundations enabling us to create more targeted loan funds. A capacity building grant from The Cleveland Foundation enabled us to purchase a new online loan management system and increased our staff. A Buckeye/Fairfax loan fund with thanks to The George Gund Foundation, and the Mt. Pleasant Loan Fund with thanks to the Saint Luke's Foundation.
Look for the next newsletter for details on the new loan programs.