The Tri-Parish Collaborative of St. Juliana’s, St. Mary’s, and St. Philip’s St. Vincent de
Paul Societies are pleased to offer the Michael Clements Mini Loan Program (the Mini
Loan Program) to our friends and neighbors in need who live within our Tri Parish
The purpose of the Mini Loan Program is to reduce the number of
individuals and families who are at risk of becoming homeless or trapped in the “Cycle
of Debt” caused by predatory loans (payday loans or title loans), underemployment, or
Many of our neighbors at risk of homelessness are a segment of the population that was
employed and working but now unable to sustain housing due to numerous issues.
These include poor health, lack of job growth, limited financial literacy, and spiraling
debt. Once homeless, they are unable to save enough money for medical expense
payments, pay rent or make rent deposits or pay down predatory loan debt.
As the Tri-Parish Collaborative on Homelessness (the Collaborative), we have created a
bank account from which we can collateralize loans for working neighbors with the
funds needed to sustain or regain their housing. Banks and Credit Unions grant and
administer these loans using these funds based upon the Collaborative’s
recommendation. The loan decision of who qualifies and who is recommended will be
the responsibility of the Collaborative. The interest on these low-cost loans
would be used to cover the administrative costs of the financial institution. The
repayment for the loans then rebuilds the Collateral fund's pool and will roll over to
subsequent needy loan applicants.
The funds will come from directed donations, gifts, and grants and are specifically
earmarked for this purpose. No Saint Vincent de Paul operating funds or normal
donations for food, utilities, Gas Vouchers, etc. are to be used for the Mini Loan
Program. Other St. Vincent de Paul Societies across the United States have developed
and are employing and operating this type of mini-loan program.
References are available upon request.
"Act Justly, Love Mercy, Walk Humbly"