A new Mercy Partnership Fund loan is helping immigrants and refugees throughout the United States build credit and create a road for success.
The loan will allow the International Rescue Committee’s Center for Economic Opportunity (CEO) to expand its lending program to refugees and immigrants throughout the U.S. The loan fund specializes in making flexible, affordable consumer and microenterprise loans to borrowers with little access to traditional financing. The loans, combined with training and services, help borrowers build credit, start businesses, buy cars, pay for workforce training and support financial health. Last year, CEO’s borrowers came from 38 countries, according to Kasra Movahedi, the program’s director. “Our borrowers have a hard time finding affordable financing elsewhere, often due to a lack of credit or because they are new to the U.S. In turn, financial exclusion makes climbing the economic ladder that much harder. Our loans fill this gap.”
Watch this short video to learn how an auto loan from CEO helped Farhad, a refugee from Afghanistan, build credit and embark on the road to success.
To learn more about the work of International Rescue Committee’s Center for Economic Opportunity, visit its website. International Rescue Committee’s Center for Economic Opportunity is one of more than 60 mission-driven organizations in Mercy Partnership Fund’s global community investing portfolio. Learn more here.