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Neighbors in Need

WHO WE HELP

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The Michael Clements Mini Loan Program applies to Neighbors in Need within the three

Fullerton parishes including St. Marys, St. Juliana Falconieri, and St. Philip Benizi Catholic Churches.

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This program targets those most at risk of becoming homeless or unhoused. The strategy is to

help Neighbors in need gain control of their spiraling debt or provide the necessary funds for

housing rental deposits. These Neighbors in need must verify a monthly income based on

employment to repay the loan and accept training in financial literacy that includes budgeting.

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Participation in the mini loan program does not exclude them from other St. Vincent de Paul

charities that include food, vouchers, utilities, car registration, or auto repairs.

The Neighbors in Need are identified during food pantry distributions and by referrals through

friends and neighbors, landlords, city outreach coordinators, police, and the parish community at

large. Direct contact and briefings as well as flyers will be used to communicate and update

these groups.

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OUTREACH

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Outreach will occur during home visits to deliver food by Saint Vincent de Paul (SVdP)

members, and through communications during pantry food distribution days within the parishes.

This is where most request for rent, utilities, transportation, and clothing support is requested

and specific needs established.

 

The opportunities to communicate and offer this loan program

will be effective since neighbors in need often return on a weekly basis for food and other

resources and make their needs known. When any financial support is being requested, the Mini

Loan Program will be offered, and this low interest loan can be explained. At that point, an

SVdP volunteer may make one or more home visits to evaluate the neighbor’s circumstances,

their financial proficiency, employment status, and other relevant information. A need case and

an ability to repay as well as the financial assessment will be assembled by the visiting

volunteer.

 

An assessment will then be forwarded and reviewed by the Tri Parish Loan

Committee. If a recommendation to provide a loan is made, it will be forwarded to the banking

institution. Upon receipt of the recommendation to fund the loan, the bank will contact the loan

applicant and initiate the formal paperwork. The repayment agreement will be signed by the

applicant and the loan will be fully executed. The loan check will be made payable to the

appropriate payee (not directly to the Neighbor in Need). The banking institution will collect,

and record payments and the Tri Parish Loan institution Liaisons will monitor any issues, late

payment, or missing payments.

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Our neighbors in need will benefit from this program by avoiding payday loans, title loans, and

other predatory loan organizations to meet their financial needs. In addition, they would avoid

the bureaucracy of large financial institutions, including the banks ’critique of their negative

credit history and the higher interest rates charged because of this. Once paid off, however, the

participating banks will report on their payment history and the neighbors in need will see their

credit ratings increase.

"Act Justly, Love Mercy, Walk Humbly"

-Micah 6:8

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