The CARes Project of Davidson County keeps families rolling
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Personal transportation is essential for those that reside in rural areas or within cities that have little to no public transportation. You may have heard the statement that, many people are only one paycheck away from the despair of homelessness. That statement also rings true for many when it comes to personal transportation .
It isn’t a coincidence that those without personal transportation often also live in food deserts.
A food desert is an area of a city where there are limited or no grocery stores. Food deserts make it difficult to buy affordable and good-quality fresh food. This often means that people without transportation are unable to reach grocery stores to buy healthy food, so they must instead rely on nearby convenience stores where only over priced and unhealthy processed food can be purchased.
Without personal transportation it is also very difficult to compete for better jobs, especially if those jobs are not located the immediate area.
Healthcare is another quality of life that may be compromised as a result of no transportation. Many medical conditions are exacerbated due to patients being unable to reach necessary medical appointments.
Not having quality personal transportation may also affects mental health and self esteem by hindering the ability to engage in independence and personal growth. Imagine a parent that is never able to attend their child’s school functions, conferences, or athletic events.
The CARes Program of Davidson County helps people in need of reliable personal transportation become financially secure through car ownership by making community- funded vehicle loans and by building skills through financial and credit coaching.
Thanks in part to funding from United Way of Forsyth County, United Way of Davidson County and our first CDFI FA grant, we have provided more loans in the first half of 2023 than we have in any entire years previous. With the United Way of Davidson County’s funding, we are able to expand our ability to provide loans to applicants in Davidson County by investing $80,000 in 9 vehicle loans to Davidson County residents. Our loans go up to $15,000 with all cars having warranties and insurance.
The CARes Project became eligible years ago to qualify for its first Financial Assistance (FA) award. FAs are funding from the U.S. Department of the Treasury’s Community Development Financial Institution (CDFI) Fund. FA awards are used primarily to provide financial assistance directly to economically disadvantaged communities. An award was also received from The CDFI Fund, the Equitable Recovery Program (ERP). The ERP made available $1.75 billion for certified CDFI’s to expand their lending, grants and investments in low and moderate income communities and to underserved minority communities. Because over 80% of the loans The CARes Project makes are to minority females (single mothers raising children) who live in CDFI identified Investment areas, we were a great fit for the ERP. Local statistics report that 83% of recipients are single, divorced or are female.
The CARes Project thanks the United Way and the U.S. Department of the Treasury’s Community Development Financial Institution (CDFI) Fund for their support as we fulfill our mission to help people become financially secure through car ownership. These financial awards make it possible for us to continue to provide financial and credit coaching and make community-funded vehicle loans to program participants.
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To begin your path to personal transportation contact The CARes Program of Davidson County on their website at: www.thecaresproject.org. Or If you have questions, please do not hesitate to reach out to Melinda Beauchamp at melinda@thecaresproject.org or by phone at 336-840-1555.
