We at Goodwill Industries of Kentucky are proud to be named a Louisville Business First 2021 Partners in Philanthropy honoree for our partnership with Park Community Credit Union, Oxmoor Auto Group and Apprisen on the Goodwill Cars to Work program.
The partnership was one of three innovative partnerships between Louisville-area companies and nonprofits to be recognized Louisville Business First and will be highlighted during a virtual ceremony on August 5.
Through the Goodwill Cars to Work program, individuals who wouldn’t normally qualify for financing are provided secured auto loans with affordable monthly payments of $150 to $210 per month. The program promotes self-sufficiency by requiring participants to save for a down payment and learn useful tips for paying off loans.
To this end, Apprisen, a nonprofit offering financial resources to those in need, provides each participant with a financial foundations class, credit health review and six months of financial coaching.
For participants, Goodwill also helps with a down payment match of $500 (and $1,000 for Goodwill employees) and offers a fixed 5% interest rate regardless of credit score or history. If a participant pays their loan in full, with no late payments, they’ll get an interest reimbursement. There’s also a free credit health review and six months of financial coaching to help them establish or build credit.
To get individuals in cars, Goodwill has partnered with Oxmoor Auto Group. The local, full-service car dealership helps match participants with vehicles that meet their needs.
On the finance side, Goodwill enlisted Park Community Credit Union to administer loans and provide education on the lending process for participants.
To learn more about the honor via Louisville Business First, tap the link below:
Are you in need of a vehicle to obtain reliable employment? Let us help you. To learn more and apply, visit goodwillkycarstowork.org.