FORT WAYNE, Ind. (WOWO) — Brightpoint has received a $100,000 grant from the Foellinger Foundation to expand access to affordable loans for working families in northeast Indiana.
The Special Opportunity Grant will support the Community Loan Center of Northeast Indiana, operated by Brightpoint Development Fund. The funding will strengthen the program’s loan loss reserve and make up to $1 million in affordable loans available to workers in the region.
Brightpoint Development Fund partners with employers to offer the Community Loan Center as an employee benefit. The program provides workers with access to credit for unexpected expenses, such as vehicle repairs and emergency household costs.
Brightpoint says the program can help workers avoid high-interest payday loans while reducing financial stress and improving financial stability.
Matt Crouch, Brightpoint’s vice president of Community Economic Development, said the grant will allow the program to reach more working families.
The Community Loan Center is also seeking additional employers interested in offering the benefit to their employees.
Employers can contact Brightpoint Development Fund at 260-399-4108 or visit mybrightpoint.org/clc for more information.
