Do not miss Eileen column today about the extension of credit agreements and save program that small low-cost loan offers low-and middle-income residents of the city.The program, started by the FDIC and eight local lenders started in just a few ZIP codes East Baltimore, but now all districts participate, writes Eileen.
The loans of $ 300 to $ 1,000, should serve as an alternative to expensive payday loans. Loans to pay has been used to for medical bills, utilities and car repairs.
To be eligible, applicants must have income guidelines and agree to sign up for financial advice. To limit losses, the organization has stopped lending to those with past judgments, liens or those who are currently in bankruptcy.
Applications and more information about the program go to Neighborhood Housing Services of Baltimore Web site can be found (although it seems are not updated with new information about eligibility). Or call 410-327-1200
source: http://weblogs.baltimoresun.com/business/consuminginterests/blog/2010/11/borrow_and_save_program_expand.html
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