The SVdP Micro Loan Program will help families find stability.
We’re excited to announce the launch of St. Vincent de Paul of Contra Costa County’s Micro Loan Program! This initiative provides low-interest loans of $500 to $2,000 for individuals with stable income but no financial cushion for unexpected expenses like medical bills, security deposits, or car repairs. The program also helps convert predatory payday loans — which can charge up to 600% interest — saving borrowers thousands of dollars.
“This program is a chance for systemic change,” said SVdP Board Member Ron Costanzo. “It isn’t just charity, but a real opportunity for people to build better lives.”
Payday loans trap families in cycles of debt, with 80% of borrowers forced to reborrow within 31 days. SVdP’s Micro Loan Program offers a compassionate alternative. Borrowers will take part in a home visit with trained Vincentian volunteers, who will assess their needs and provide financial literacy education to help them manage their finances and avoid future debt traps.
“Some people spend years going from payday loan to payday loan just trying to cover the interest,” said SVdP Vincentian Services Manager Stephen Krank. “For those on a fixed income, a single emergency can be devastating. But with a program like this, they can get real help, build credit, and turn their lives around.”
A similar SVdP program in North Texas has already converted 568 payday loans and issued 96 emergency loans, helping families avoid over $2 million in interest and fees. Now, Contra Costa families will have the same opportunity to escape predatory lending, regain stability, and build a stronger financial future—all thanks to your support.
The SVdP Microloan Program will help families find stability.
