Connecting community relationships and resources to love people forward |
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Overcoming Barriers to Success |
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What is holding you back? At Love Columbia, we specialize in identifying and overcoming barriers to success. For each person, we ask: What is preventing you from achieving your goals? How can we work together to pave the way forward?
In this newsletter, you will read about no interest loans, game changing gifts, and help to file taxes.
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Kameo, Extra Mile participant, with Kerri, her Extra Mile coach. |
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Extra Mile Loans are no interest loans offered to retire high interest loans.
Since several local bankers and private donors came together in 2018 to start the loan fund, we have provided 43 no interest loans, totaling $63,529.53 to help our financial coaching participants retire high interest payday or car title loans. Our most common loan is $1000 for one year. After receiving a donation last fall, we have been able to offer larger loans if needed. Because of the relationships formed through coaching, our repayment rate is 90% as compared to a 25% rate typically reported by similar programs.
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Kameo studying her Extra Mile coaching manual |
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Kameo, single mother of a 15 year old, lost her supervisory job at a local factory after developing a serious illness. To make ends meet, she took out a car title loan. She hoped to quickly find a less strenuous job, but her plans were delayed when she developed Covid. When her car was about to be repossessed, we were able to give her a no interest loan. Kameo says, “I don’t know what I would have done if you hadn’t helped me. My loan payments are now less than half of what they were before, and you have provided resources and support to give me hope to dream again.”
Kameo found a job in retail but wants to pursue career options better matched with her experience. She is enrolled in Extra Mile financial coaching and has a goal of owning a home. Kameo has already asked how she can volunteer to give back and is referring family and friends for financial coaching.
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After losing her job because of Covid, Amanda took out payday loans to cover her basic household bills. She enrolled in the Extra Mile program to learn more about money management and was approved for an Extra Mile payday relief loan. She has a full-time job and two part-time jobs. She told her Extra Mile coach, "Things are finally starting to come together. I feel more organized financially." She also expressed that she is now excited about reducing debt and hopeful for the future. Currently, she is focused on improving her credit to buy a house!
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Amanda and her Extra Mile coach, Andrea, met each other for the first time in person at our office this week. Their previous 13 coaching sessions were all done over Zoom. |
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Barriers Fund Opens Doors |
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Generous donors have recently created a fund to provide strategic assistance to help Love Columbia program participants overcome barriers:
- Old utility bills paid to allow families to get into affordable housing
- Cars repaired so employment could be maintained
- Equipment purchased to complete training and launch a professional career
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Gift paired with no interest loan to retire college debt allowing acceptance of scholarship
- Legal fees paid to keep woman housed after mother passed away with no will
- Storage fees paid so young man could temporarily relocate to attend welding school
- Car insurance paid for single mom to accept donated car and start a job in health care
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Many do not file income tax returns and miss out on benefits they are eligible to receive. Some who are not required to file assume they should not file; others are overwhelmed at the process.
The Volunteer Income Tax Assistance (VITA) grant program is designed to support free tax preparation services for people with low or moderate-income. This year, we are partnering with the MU Extension Office to host a VITA site at our downtown location.
You don't have to be a tax expert to help! You can receive training to volunteer as a tax assistant, a site greeter, or a quality assurance reviewer.
Contact us for details at volunteer@lovecolumbiamo.org
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Joshua Bogle, our lead VITA volunteer, is passionate about helping people with financial planning. We are thrilled to have connected him with this service opportunity! |
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The Love Seat resale store provides a place for shoppers to find quality, low-cost furniture, housewares and clothing and for Love Columbia program participants to obtain essential items to support their forward progress. The associated furniture bank provides free furniture and housewares to families in crisis or transition. |
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Mon - Fri 10:00 - 5:00
Sat 9:00 - 4:00
Donation Times: Mon - Sat 10:00 - 3:00
For Donation Inquiries/Scheduled
Pick-Ups Contact: 573-303-6198
2600 Rangeline St. Columbia, MO 65202
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