Lending Circles Program
The Eastmont Community Center, in partnership with Mission Asset Fund, has introduced the Lending Circles Program. This innovative program is designed to empower community members by providing them with opportunities to build credit and access financial capital through a collective, community-based approach.
How Lending Circles Works
The program allows small groups of participants, known as "circles," to contribute monthly to a shared fund. Over a period of 6 to 12 months, members of the circle receive rotating loans from this fund, ranging between $300 and $2,500. This not only provides participants with immediate access to capital but also helps them establish or improve their credit history, which is crucial for long-term financial stability.
Key Benefits of Lending Circles
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Credit Access: The program offers an accessible way for individuals, regardless of their current credit situation, to start building or repairing their credit.
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Financial Education: Participants receive personalized training and guidance in financial management, enabling them to make informed decisions about their financial future.
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Community Support: As a community-based program, participants not only build credit but also strengthen community ties, supporting each other in achieving financial goals.
Participation and Enrollment
The Lending Circles Program is open to all community members, emphasizing inclusion and providing opportunities for anyone seeking to improve their financial health. With this program, the Eastmont Community Center reaffirms its commitment to the economic well-being of the community by offering practical tools for members to achieve their financial goals and enhance their quality of life.
Those interested in participating in the Lending Circles Program can contact the Eastmont Community Center for more information on the enrollment process and requirements.
Financial Stability
Eastmont Community Center
The Financial Empowerment Program prioritizes access to tax preparation, coaching services, and education for financial stability by increasing financial knowledge and goal setting. The purpose of this program is to reduce financial debt, expenses, and increase wealth building, income, savings, and tax credit knowledge for low-income earners.
VITA (Volunteer Income Tax Assistance)
Volunteer Income Tax Assistance (VITA) provides access for IRS-Certified tax return preparations to individuals with low to moderate incomes. The purpose of this program is to increase and maximize the amount of refunds and tax credits back to people who earn a lower income.
Below are some resources and recommendations to save you time:
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Find a VITA site near you: Click HERE.
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Learn more about what tax credits you can qualify for: Click HERE.
Important documents to bring to your tax appointment:
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All taxpayers must present with photo identification
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Social Security cards or Individual Tax Identification Number (ITIN) for all people listed on the tax return
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Birthdates for all the people listed on the tax return
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All income statements, such as Forms W-2 and 1099, Social Security, and unemployment compensation.
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Other statements such as pensions, stocks, interest, and any documents showing taxes withheld.
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Self-employed income and expenses less than $10,000.
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All records of other expenses such as tuition, student loan interest, mortgage interest, or real estate taxes on Form 1098.
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Any insurance coverage through Covered California, forms CA 3895 and 1095-A.
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Health Insurance Marketplace Statement.
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Bank routing numbers and account numbers to direct deposit refund.
Financial Coaching
Eastmont Community Center supports the community with Financial Coaching focuses on creating a financial journey with clients for their financial needs to effectively form healthy habits regarding spending, expenses, credits, and savings. It empowers you to take control of your money, build a secure future, and achieve your financial goals. Whether you're struggling with debt, saving for a house, or simply want to get smarter about your finances, a coach can provide personalized guidance and support.
Financial Educational Workshops
Financial literacy is a powerful tool that can transform your life. Eastmont Community Center offers Financial Education Workshops for families and seniors by offering resources regarding home purchasing, personal finances, banks, and retirement. Learn valuable skills like budgeting, managing credit, and building wealth. These workshops are provided in English and Spanish, making financial literacy accessible to all. Take charge of your financial future, invest in yourself!
Some folks in our community have never been able to build their credit or have had issues with it in the past. The Lending Circles program makes it accessible and even enjoyable.
Emma Cordova
Assistant Director, Economic Development, ECC