Bonnie CLAC leverages buying power to help stabilize and restore the lives of transportation-dependent, working poor by helping them purchase fuel-efficient cars at great prices and low interest rates. This program is built on the premise that how you get around affects your ability to live a healthier lifestyle. Reliable transportation is a never-ending concern for the working poor. Access to reliable transportation can mean the difference between working multiple part-time jobs, securing a real job with decent pay and benefits, keeping appointments, and managing daily demands. Yet, driving unreliable, fuel-inefficient, older used cars with high repairs costs, financed at high interest rates, take a heavy toll on poor families often resulting in compromised health. Bonnie CLAC leverages bargaining clout with dealerships. Loan guarantees further reduce prices and interest rates, thus providing cost-efficient, dependable transportation to those who really need it. Bonnie CLAC also provides additional, on-going budget counseling and credit education and places families on the path to economic security that leads to healthier living. Since 2001, Bonnie CLAC has guaranteed more than $13 million in car loans and helped nearly 1,000 people buy cars in the New England area.
Amount Awarded $750,000.00
Awarded on: 10/26/2007
Time frame: 11/15/2007 - 11/14/2009
Grant Number: 62988