According to a report by the Urban Institute, about one-third of Americans have a credit score below 620, which is considered to be a subprime credit score. The same report found that low-income individuals are more likely to have subprime credit scores than those with higher incomes. In fact, about 52% of households earning less than $30,000 per year have subprime credit scores.
These statistics show that low-income communities are more likely to have subprime credit scores and other negative credit events, which can make it difficult for them to access credit and financial services. This highlights the importance of organizations like Capital Good Fund that focus on serving underserved communities and providing access to affordable loans and financial coaching.
Capital Good Fund is a non-profit financial institution that provides affordable loans and financial coaching to individuals and families who might not have access to traditional banking services. They offer a variety of loan products, including personal loans, emergency loans, and small business loans. These loans are designed to help people meet their financial needs and improve their financial stability. Capital Good Fund also offers financial coaching services to help borrowers develop good financial habits and achieve their financial goals.
Join us on this episode of RENEWables and meet the Founder and CEO of Capital Good Fund, Andy Posner, to learn more about how the organization focuses on serving low-income and underserved communities, and their work to promote financial inclusion and economic empowerment for communities in need.Tune in and subscribe.
|RENEWables, A Sustainabilty Podcast is a new podcast focused on the energy landscape of today. Everything from emerging renewable energy technologies to sustainability practices to why brands are changing the way they think, RENEWables is a source for current and dynamic conversation.|
Be the first to hear new episodes by subscribing to our email list here.