The loan is intended to help the client build credit or strengthen their household situation. For example, credit building activities might include paying off collections debt, consolidating high-cost outstanding loans, or paying the deposit on a secured credit card. Activities to strengthen a household situation might include loans for unexpected expenses such as an auto or small home repair need or a housing deposit. Life Loans are not intended for general consumption purposes.
The participant makes regular and timely loan payments, and such payment history is reported by Great Rivers Community Capital (GRCC) to all three credit bureaus (Transunion, Equifax, and/or Experian).