America’s financial lending and counseling nonprofits could soon be on the brink of collapse.
These organizations assist 6 million low- and moderate-income individuals in communities accros the country, most of whom are excluded from mainstream credit systems.
“Federal grants funding nonprofits that help people build strong credit are being slashed. The result will be more foreclosures, evictions, bankruptcies, and out-of-business signs at small businesses across the country, writes Dara Duguay, of Credit Builders Alliance.