On the Road Lending has received a loan of up to $10 million from the Goldman Sachs Urban Investment Group to fuel expansion of its successful initiative across underserved communities throughout the Southeastern U.S.
On the Road Lending helps clients improve their credit and purchase fuel-efficient, reliable cars with low-interest loans through its sister loan fund, which is a Community Development Financial Institution certified by the U.S. Department of the Treasury.
“Ultimately On the Road Lending fuels economic mobility and long-term success by providing the engine that drives people’s dreams,” said Michelle Corson, On the Road Lending’s founder and CEO.
“We’re grateful to have Goldman Sachs recognize through its investment that a car loan through On the Road Lending is life-changing because owning a reliable car increases job opportunities by removing transportation barriers. It also improves quality of life through better access to health care, education, and even healthier food choices.”
ON THE ROAD LENDING is a 501(c)3 nonprofit organization that provides vehicle selection assistance and long-term financial mentoring.
