The Little Falls Micro Fund is a 501(c)3 tax exempt corporation whose mission is to provide interest free loans to qualified applicants. Our organization is staffed completely with volunteers and our expenses only include annual governmental fees, postage, paper supplies, web site fees and one telephone. As a community based loan program, neighbor helping neighbor, we want every resident to know about Little Falls Micro Fund, to spread the word, make a donation, or apply for an interest free loan.

 

Many people live on the edge. Not the edge sought by the thrill-seeker, but the financial edge, where the paycheck coming in is almost exactly balanced by the bills. People on this edge have little room to maneuver, and it doesn’t take much to upset the balance. A sudden illness, medical bill, or a significant car repair might be the start of a downward spiral from which recovery is all but impossible.

 

Equally, there is little room for that small investment in education, certification, or equipment, which might set them on an upward financial path. There isn’t the capacity to afford a commercial loan, even if they qualify.

 

Little Falls Micro Fund sets out to help such people in the Little Falls area by providing a one-time financial lifeline that keeps them working, avoids the downward spiral, or offers the opportunity for progress.

 

The loan limit is $2,000, interest free, and repayable over a maximum of two years. Applicants are vetted to establish their ability to pay and for the purpose of the loan. Help is available to set up a budget and to monitor expenses. Loans will not be granted for living expenses such as food, utilities, mortgages, rent, car payments, credit card debt, or other recurring expenses. Regular loan re-payments are essential since the flow of funds back from one client is used to help the next.

 

Having completed the repayment, a client will be given a letter from the Micro Fund that may help in raising their credit score, and/or enable them to apply for commercial loans in the future, as circumstances improve.

 

Little Falls Micro Fund is supported by several local agencies. It is funded by donations from local people like you who see the need and support its aims. It’s nonprofit, and run by volunteers. Everyone should know about it since you may be able to donate funds, or refer people you know who need the help, or you may even be a potential client.

 

It’s small, its local, its neighbor-helping-neighbor, its community driven and meets a genuine community need. It’s helping people on the edge to take at least one step back from it.

 

 

Board Members

Mike Evans

Cletus McLaughlin

Michael Ryan

Rob Richard

Janet Tamburrino

Stacy Kulla

Laura Eyesaman

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littlefallsmicrofund@gmail.com

315-219-9396

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