FORT WAYNE, Ind. (WOWO) — Brightpoint has received a $100,000 Special Opportunity Grant from the Foellinger Foundation to support its Community Loan Center of Northeast Indiana, an initiative aimed at providing low-cost alternatives to payday loans for local workers.

Operated by the Brightpoint Development Fund, the Community Loan Center partners with area employers to offer employees access to loans of up to $1,000 with affordable repayment terms. The program is designed to help individuals manage unexpected expenses—such as medical emergencies or car repairs—without resorting to high-interest payday loans, which can carry annual percentage rates (APRs) as high as 365%.

The grant will be used to fund the program’s loan loss reserve, enabling Brightpoint to offer up to $1 million in available lending to working families across the region.

In northeast Indiana, about 7% of families living paycheck to paycheck regularly rely on payday loans, often becoming trapped in cycles of debt.

“We’re excited to partner with Brightpoint for this Special Opportunity Grant,” shared Sarah Strimmenos, President and CEO of Foellinger Foundation. “Inflation impacts have taken a toll on self-sufficiency in Allen County. Wages needed in 2025 to sustain a family of four have risen to over $80,000, up from just over $54,000 in 2020. Brightpoint offers these affordable small-dollar loans through the Community Loan Center, which do not carry the high interest rates of payday loans. This access helps prevent individuals from sliding backward on the Independence Continuum and moves people toward financial independence.”

“We’re deeply grateful to Foellinger Foundation for this Special Opportunity Grant,” said Steve Hoffman, Brightpoint President and CEO. “This support strengthens our mission to help borrowers manage their finances, cover unexpected expenses, and work toward financial stability.”