Texas-based organization expands and builds growth initiatives
Raleigh, North Carolina, April 24, 2024–(BUSINESS WIRE)–On the Road Lending, a nonprofit launched in Dallas in 2013 to provide life-changing auto loans, is expanding to North Carolina. . They have partnered with Cape Fear Collective and Kingdom Cars and are working with existing local businesses to make the journey as seamless as possible. This expansion is an important milestone for the organization as it continues its mission to promote economic independence and stability, promote economic independence and stability, and provide reliable transportation for individuals and families with limited resources. It becomes a milestone.
“We are excited to bring our auto financing program to North Carolina,” said Michelle Colson, founder and CEO of On the Road Lending. “Everyone has the right to reliable transportation. With this expansion, we hold the ‘keys’ to a better future and make a difference in the lives of even more people.”
A typical on-the-road lending customer avoids $3,000 in fees, $7,000 in interest savings, $2,000 in repairs, $3,500 in fuel savings, and gains $5,000 in equity. You can earn more than $20,000 in financial benefits over the life of your loan. Value at payoff.
On the Road Lending is already having an impact on North Carolina resident Arnett G. Without a car, he was struggling to expand his business beyond local events. After receiving his vehicle loan, Arnett expanded his catering business, winning larger contracts and reaching new customers throughout the city. This vehicle opened doors for his business and improved his credit score and financial stability. Arnett purchased the vehicle through On the Road Lending and the Mission Driven Motors program, which promotes accessible transportation in the Cape Fear region.
“Having a reliable car is important because it allows you to go wherever you want without having to rent a car because transportation is unreliable,” said Arnett G. “This opportunity gave me options and the freedom to think about what I wanted to do.”Next. “
Unlike traditional credit-based systems, on-the-road lending evaluates applicants based on their commitment and future potential, offering vehicle financing to people who may face barriers with traditional lending. Provides a path to ownership. In 10 years, On the Road Lending he has provided affordable loans to over 1,500 families.
On the road lending is a human empowerment initiative that provides vehicle selection assistance and long-term financial guidance. OTR FUND I, LLC is an impact investment fund that provides affordable loans to On the Road Lending customers. Investors include individuals, corporations, foundations, and institutions that can earn annual preferred returns. OTR Fund I, LLC is a community development financial institution certified by the U.S. Department of the Treasury. On the Road Lending and OTR Fund I, LLC have teamed up to provide financial advocacy and affordability to help individuals improve their credit, avoid predatory lenders, and purchase fuel-efficient, reliable vehicles. We offer loans of. For more information, visit ontheroadlending.org. Read about our successful clients at ontheroadlending.org/clients.
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