Sustain Able Up Iowa Loan Operating Budget

Project Description

The Able Up Loan Program of Iowa Community Capital (ICC) began in 2022 following the pandemic. The purpose is to address the gap in microfinance loans and services for low-income Iowans with disabilities. ICC is a 501(c)(3) charitable nonprofit organization with a mission to identify gaps in access to capital in Iowa and to provide small loans and microfinance services to underserved low-income populations, including women and minority entrepreneurs, persons with disabilities, and persons in need of credit repair. ICC is a specialized Community Development Financial Institution that currently serves over 500 clients. ICC clients are unable to access capital from conventional sources and desire to optimize mobility, incomes, and family quality of life.
In 2022, Able Up Iowa, which a sister charitable nonprofit, asked ICC for help to address the gap in small dollar loans of $2,500 or less for underserved low-income persons with disabilities when the client demonstrates loan repayment capacity. More than 160 Able Up clients in Iowa have received loans since ICC launched the Able Up Loan initiative. One-fourth of the Able Up Loan clients live in Central Iowa. Able Up clients typically use the loans for repair or purchase of vehicles for getting to work and appointments; home repairs or modification for increased mobility; assistive technology for optimizing living standards; and/or credit repair. Persons with disabilities typically require more technical assistance coaching than other microfinance clients. An operating budget of $150,000 is annually required by ICC to sustain the Able Up Loan Program and $40,000 has been received for the current fiscal year.
Able Up Ask: Additional contributions of $110,000 are needed to sustain ICC’s Able Up Loan operating budget for the fiscal year ending June 30, 2025. Would you consider making a contribution to help sustain ICC’s Able Up Loan Program for low-income Iowans with disabilities?