‘Ways to Work’ Finds Ways to Pay

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Getting low interest loans for car payments can be hard to do, especially without good credit history.  The Ways to Work program from the Bethany Home for Children and Families in Moline helps make getting these loans possible.

“The clients served are not able to get a loan at a bank or credit union before our program,” Pat Mckillip, loan coordinator for the Ways to Work program, said. “Without credit, banks and credit unions don’t want to take a chance.”

The Ways to Work Program has a mission to help lower income families find ways to pay off car loans.  The maximum amount for each loan is $4,000 and funding is made possible through a grant from the Department of Transportation.

In order to receive the loans, a few requirements must be met. The client must be the parent of a child under 18 and be employed at least 3 months before applying for the loan. They must also live in Rock Island, Mercer or Henry county and work 20 or more hours per week, to name a few of the necessary qualifications.

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“The program started to assist women who came off welfare,” Mckillip said. “They expressed a concern for affordable credit for cars to get to work.”

Today, married couples as well as single fathers can apply for the car loans. The Ways to Work program requires the client to attend a financial literacy class in order to understand how to manage their own finance and be able to get their own credit.

“Clients have gotten loans on their own after the program,” Mckillip added.
Approximately 450 loans have been given out locally with only a 5 percent default rate with payments.  Most clients have been able to work out ways to pay off car loans and improve their credit history through the Ways to Work program.

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As for the future, the program is hoping to expand into Iowa and reach a more diverse population. It would also like to build loan volume.

Bethany Home operates nearly two dozen other programs including adoption and intervention services.
For more information about receiving a car loan or other services, visit the Bethany Home for Children and Families at 1830 6th Ave. in Moline or call 309-736-6635.

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