What is Soul Bloom Lending?
Soul Bloom Lending seeks to help individuals break the cycle of predatory lending by providing loan consolidation with lower interest rates. This lending program is a branch of the nonprofit 501(c)(3) parent company, Soul Bloom Productions, Inc. A lending program for distressed and impoverished families meets the Soul Bloom mission to empower and educate.
Participants will receive community support.
Adding to the more formal, structured classes, the lending program plans to foster learning and personal support utilizing existing community resources. Community members and organizations with financial, jobs, social services, and counseling expertise will be asked to collaborate with Soul Bloom Lending to provide the required education, and to provide support where needed. It is not the intention of Soul Bloom Lending to duplicate services already available in the community.
The Soul Bloom Lending staff will provide leadership and mentoring for the lending applicants. Other community organizations and members will also be partnered with. It is the belief of the Soul Bloom board that collaboration with other nonprofits and community organizations is of benefit to all parties. It is the board's belief that collaboration makes for effective well-rounded communities.
Soul Bloom Lending seeks to help individuals break the cycle of predatory lending by providing loan consolidation with lower interest rates. This lending program is a branch of the nonprofit 501(c)(3) parent company, Soul Bloom Productions, Inc. A lending program for distressed and impoverished families meets the Soul Bloom mission to empower and educate.
Participants will receive community support.
Adding to the more formal, structured classes, the lending program plans to foster learning and personal support utilizing existing community resources. Community members and organizations with financial, jobs, social services, and counseling expertise will be asked to collaborate with Soul Bloom Lending to provide the required education, and to provide support where needed. It is not the intention of Soul Bloom Lending to duplicate services already available in the community.
The Soul Bloom Lending staff will provide leadership and mentoring for the lending applicants. Other community organizations and members will also be partnered with. It is the belief of the Soul Bloom board that collaboration with other nonprofits and community organizations is of benefit to all parties. It is the board's belief that collaboration makes for effective well-rounded communities.
Lending Application Request
How will Soul Bloom Lending promote jobs in our community?
Incorporated into the Soul Bloom Lending program will be opportunities for recipients to get support and training in securing and maintaining jobs. Having a job will be crucial to getting approved for our lending program. It is expected that many individuals who seek lending will have a fractured jobs history. It is the goal of this project to partner with existing nonprofits and community resources for jobs training, as a way to qualify loan applicants.
Soul Bloom Lending is not a “handout”… financial education is required.
Soul Bloom Lending is not intended for individuals who don’t want to work or give back to the community. It seeks to assist individuals who are motivated to end their own cycle of predatory lending. Attending classes focused on financial management, budgets, debt, and jobs will be required of applicants. As the logistics of childcare and schedules can be prohibitive to attending classes in-person, Soul Bloom Lending has set a goal of making online course work available to meet the required educational component.
Participants will be asked to volunteer and “give back” to their community.
Just as applicants will be required to participate in the educational component of Soul Bloom Lending, volunteerism will also be promoted. The loan applicants will be guided toward opportunities to "give back" even as they receive the financial help they need. Volunteer opportunities could be assisting with childcare while parents attend classes, assisting the teachers and mentors, or volunteering for the other partner nonprofits.
The benefits of volunteering were written about on HelpGuide.org. "The benefits of volunteering are enormous to you, your family, and your community. The right match can help you to reduce stress, find friends, reach out to the community, learn new skills, and even advance your career. Giving to others can also help protect your mental and physical health."
How does predatory lending affect families?
A Netflix documentary was made about Scott Tucker of Overland Park, Kansas, called "Dirty Money." He was criminally indicted in a $2 billion predatory loan business. The following article references the $505 Million verdict where 1 million consumers will receive paybacks:
https://www.kansascity.com/news/business/article219141220.html
Why donate to Soul Bloom Lending?
People often fall prey to predatory lending when a family crisis of health, or job loss, or other unfortunate circumstances befall them. The stories of predatory lending are not hard to find in the media, in documentary movies, and through our personal contacts. These stories are heartbreaking to hear, and demoralizing for those involved. It is not uncommon for individuals and families who suffer a financial crisis to fall into depression and ill health.
Quoting from a publication in the Journal of Law, Medicine & Ethics, by Melissa B. Jacoby, "Indebtedness may trigger stress that worsens health, or indebtedness may limit an individual's ability to seek preventive medical care and make health –maximizing choices generally.”
Please donate today to Soul Bloom Lending!
Incorporated into the Soul Bloom Lending program will be opportunities for recipients to get support and training in securing and maintaining jobs. Having a job will be crucial to getting approved for our lending program. It is expected that many individuals who seek lending will have a fractured jobs history. It is the goal of this project to partner with existing nonprofits and community resources for jobs training, as a way to qualify loan applicants.
Soul Bloom Lending is not a “handout”… financial education is required.
Soul Bloom Lending is not intended for individuals who don’t want to work or give back to the community. It seeks to assist individuals who are motivated to end their own cycle of predatory lending. Attending classes focused on financial management, budgets, debt, and jobs will be required of applicants. As the logistics of childcare and schedules can be prohibitive to attending classes in-person, Soul Bloom Lending has set a goal of making online course work available to meet the required educational component.
Participants will be asked to volunteer and “give back” to their community.
Just as applicants will be required to participate in the educational component of Soul Bloom Lending, volunteerism will also be promoted. The loan applicants will be guided toward opportunities to "give back" even as they receive the financial help they need. Volunteer opportunities could be assisting with childcare while parents attend classes, assisting the teachers and mentors, or volunteering for the other partner nonprofits.
The benefits of volunteering were written about on HelpGuide.org. "The benefits of volunteering are enormous to you, your family, and your community. The right match can help you to reduce stress, find friends, reach out to the community, learn new skills, and even advance your career. Giving to others can also help protect your mental and physical health."
How does predatory lending affect families?
A Netflix documentary was made about Scott Tucker of Overland Park, Kansas, called "Dirty Money." He was criminally indicted in a $2 billion predatory loan business. The following article references the $505 Million verdict where 1 million consumers will receive paybacks:
https://www.kansascity.com/news/business/article219141220.html
Why donate to Soul Bloom Lending?
People often fall prey to predatory lending when a family crisis of health, or job loss, or other unfortunate circumstances befall them. The stories of predatory lending are not hard to find in the media, in documentary movies, and through our personal contacts. These stories are heartbreaking to hear, and demoralizing for those involved. It is not uncommon for individuals and families who suffer a financial crisis to fall into depression and ill health.
Quoting from a publication in the Journal of Law, Medicine & Ethics, by Melissa B. Jacoby, "Indebtedness may trigger stress that worsens health, or indebtedness may limit an individual's ability to seek preventive medical care and make health –maximizing choices generally.”
Please donate today to Soul Bloom Lending!
