PROVIDENCE, RI, March 5, 2019 /PRNewswire/ — Non-profit lender Capital Good Fund (Good Fund), headquartered in Providence, RIprovides low-income families with emergency loans from $300–$500, repaid over 12 months. This facility is now available to residents of Massachusetts at only 10% APR!
Emergency loans are a much more affordable alternative to predatory businesses like payday lenders, which charge triple-digit interest rates; in fact, a Good Fund borrower will enjoy an average savings in interest and $700. Good Fund loans are also reported to the credit bureaus, resulting in an average FICO score increase of 75 points, which is crucial for a family’s financial health.
“A loan of $300–$500 because an emergency can mean the difference between being trapped in a crushing cycle of debt and building a foundation for financial mobility,” said Andy Posner, founder and CEO of Good Fund. “Our emergency loans have funded car repairs, overdue utilities and security deposits on safe and affordable apartments. We know that thousands of Massachusetts residents will benefit from the program. »
“Let’s just say my credit is a work in progress,” said one borrower. “Good Fund helps people like me by giving us the opportunity to improve our credit. They supported me when I overspent at Christmas by approving me for a personal loan, which allowed me to pay my rent on time. Good Fund was really successful for me when I needed it, and they will come for you too.”
The borrower must reside in Massachusetts and have an active bank account. A complete list of requirements is available at www.goodfund.us/loans or by calling 866-584-3651. The loan team speaks English and Spanish and the website is translated into Spanish.
About Good Fund: Good Fund is a Rhode Islandsocial change-based organization that uses financial services to fight poverty in America. Good Fund offers individual financial and health coaching and loans of up to $25,000 for the inhabitants of Rhode Island, Delaware, Floridaand Massachusetts. Since their creation in 2009, they have financed 3,700 loans totaling $6.9 million with a 95.6% reimbursement rate and has graduated 1,500 people from its coaching program. More at www.GoodFund.us.
SOURCE Capital Equipment Fund