Saturday, June 22, 2024

Non-profit organization enhances transportation and financial independence for low-income families

The CARes Project: Providing Reliable Transportation Solutions for Low-Income Working Adults

Are you tired of relying on unreliable transportation to get to work every day? Do you struggle to qualify for a traditional car loan due to your low income or credit score? If so, The CARes Project may be the solution you’ve been looking for.

Founded by CEO Scott McLaughlin, The CARes Project is a non-profit organization that provides car loans specifically designed for low-income, credit-challenged working adults. With the average FICO score of their clients being 450, they understand the struggles that many individuals face when trying to secure reliable transportation.

In 2022, the U.S. Census Bureau reported that a significant percentage of the population in Forsyth, Davidson, and Davie counties lived below the federal poverty line. Recognizing the need for assistance in these communities, The CARes Project has been able to help by providing car loans, with Forsyth County receiving the majority of loans in 2023.

But The CARes Project is more than just a lending program – it’s a pathway to financial freedom. By offering financial training to clients who have never received it before, they empower individuals to take control of their finances and improve their credit scores. On average, clients see their credit scores increase by 150 points by the time they pay off their loan.

To qualify for The CARes Project, applicants must be 18 years old, meet income guidelines, have a North Carolina license, reside in one of the three counties, and be open to financial coaching. Loans can go up to $15,000, giving individuals the opportunity to purchase a reliable vehicle and work towards a brighter financial future.

Since 2018, The CARes Project has helped 73 families and provided over $700,000 in loans. With plans to expand to more counties in the future, they are committed to making a lasting impact on the lives of those in need.

If you’re in need of a reliable way to get to work and improve your financial situation, consider applying for The CARes Project. It could be the first step towards a brighter future.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The content is based on general research and may not be accurate, reliable, or up-to-date. Before making any financial decisions, it is recommended to consult with a professional financial advisor or conduct thorough research to verify the accuracy of the information presented. The author and publisher disclaim any liability for any financial losses or damages incurred as a result of relying on the information provided in this article. Readers are encouraged to independently verify the facts and information before making any financial decisions.

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