Program Summary
Through our national network of loan offices, we provide small, short-term, low-interest loans to working poor families with challenging credit histories. In effect, we provide an alternative to predatory lenders for people with a demonstrated commitment to achieving increased self-sufficiency and intent on achieving a higher level of participation in mainstream financial markets.
All Ways to Work loan offices are hosted within member agencies of the Alliance for Children and Families, our sister company. These nonprofit, human service organizations typically offer a broad range of community-based programs and services which complement the Ways to Work program. This ensures that our borrowers have ready access to a wide variety of resources to help them be successful with their loan.
All Ways to Work loans are used to help individuals remain in or move forward in their job. The vast majority of our loans are made for the purchase of modestly priced used vehicles. Besides stabilization or improvement in their employment situations, our clients also find that our program has caused an increase in their financial literacy, raised their credit rating, heightened their sense of self-esteem, and for those obtaining a vehicle, brought about a significant improvement in their family’s quality of life.
- Program Model Overview and Timeline
- Program Model Overview and Timeline PDF
-
As the national headquarters and program replicator, Ways to Work, Inc. is located in Milwaukee, Wisconsin. Its role is much like that of a concept franchisor except that Ways to Work is able to also provide loan capital in addition to business plans and materials, custom business software, and program implementation counsel and oversight. Plus, Ways to Work performs this role without charging any kind of franchise fee.
The model calls for a member agency of the Alliance for Children and Families to host each loan office. This means that a local human service agency is providing the staff, office space, supervision, as well as operational and loss reserve funding. Even though each office is a part of a national network, they are local programs in every important sense.
The loans are marketed and applications processed by the local Ways to Work staff. Once an applicant has met all program criteria and supplied the necessary information, the credit decision is made by a local, volunteer loan committee. Each decision is based on the applicant’s character as revealed during the application process and presented by the loan officer. In short, it boils down to whether the loan officer, and consequently the loan committee, believes that the applicant will pay back the loan as required.
Once approved, the loan is actually originated at the loan office with state compliant documents provided by the national headquarters. This process maintains a single point of contact, in that the person who helped the applicant through the application process is the same person who helps them through closing and repayment. Local offices are supported and loans are serviced by the national office staff that is intimately familiar with the program and borrower needs/issues, and is vested in their success.
- Program Summary Detail and Logic Model
- For More about the Program (Click Here)
