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88Nine Radio Milwaukee

Today's stream is sponsored by Maxie's

Ways to Work - Auto Loans for Low-Income Families

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If you're a parent who has had trouble getting an auto loan, there may be help.  It's a program called "Ways to Work," offered by Milwaukee's Social Development Commission.  It connects low-income families to small loans.

The basic requirements--

  • Work at least 25 hours a week at a job you've held for at least 6 months
  • Poor or "no-credit" standing
  • 18 years of age
  • No outstanding debt to financial institution
  • If you've declared bankruptcy, the debt must be fully discharged

Families may receive up to $6,000 to purchase a vehicle or up to $1,000 to make repairs.  The loans are offered at a flat 8% interest rate, and they must be repaid within 24-30 months.  Applicants are also required to complete a financial literacy workshop, among other requirements.

Want to find out more?  To contact ways to work, call (414) 906-2822.