Solita’s House is dedicated to helping families understand and grow their net worth through comprehensive financial literacy programs and counseling. As a U.S. Department of Treasury certified Community Development Financial Institution (CDFI), we also provide access to affordable capital through consumer small dollar loans, down payment assistance loans and a matched savings program.
SMALL DOLLAR LENDING
About the Program
This new loan program will offer key assistance to those with a goal of home ownership and improved money management skills, who will at the same time be working and learning important financial habits and strategies through sister programs offered by Solita’s House. Available loans include:
- A Credit-Builder Loan, from $100-$300, for building or re-establishing credit, with an annual interest rate of 0%;
- A Debt Reduction Loan from $500-$1500, for paying off high-interest or derogatory credit, with an annual interest rate of 7%-10%;
- A Small Dollar Loan from $500-$1500 for purchase of appliances, emergency needs, security deposit advance, and starting or growing a small business, with an annual interest rate of 9%-12%
Additional Benefits
- Participate in three months of one-on-one counseling sessions prior to closing on a loan
- Have a Solita’s Home Counselor Referral
- Sign a benchmark agreement
- Enroll in Learn It $, Practice It $, Grow It $ (LPG) with 1 month of savings
- Solita’s House Rental Counseling
- SolitasHouse Passport to Financial Success
- Small Dollar Loans
