New Program Helps Families with Poor Credit Borrow Money

The Crisis Center of Tampa Bayand Fifth Third Bank have teamed up to launch the "Pay It Forward" campaign.

The program provides no-interest loans and financial empowerment to working families in the Bay area. The loans would go to pay for things like car and home repairs. The goal is to provide a pathway to these families to rebuild positive credit.

Fifth Third Bank has multiple locations throughout Tampa Bay, including New Port Richey.

The Pay It Forward program works this way: Loan applicants have to be a client of the Crisis Center, agree to attend a money management class and receive case management services while they are repaying their loans. 

As families pay back the money they have borrowed, the funds become available to help more families in similar situations, according to a press release from Fifth Third Bank. 

Two Pay It Forward loans were granted in June. The first was made to a family to replace their air conditioning unit so that the husband, who is in a wheelchair, can remain safely at home while the wife is at work. The second loan was issued to a single mother of two young children, so she could purchase a car to get to work.

For more information on Pay it Forward or the Crisis Center of Tampa Bay, visit www.crisiscenter.com. For more on Fifth Third Bank, visit www.53.com.