June 1, 2016

Tanzi invites residents to Capital Good Fund event

STATE HOUSE – Rep. Teresa Tanzi invites South County residents to an event at Welcome House next week to introduce them to financial and educational services available to them from the Capital Good Fund.

The event, which she spearheaded, is being held at the Welcome House and cohosted by the Jonnycake Center of Peace Dale, is scheduled Monday, June 6, from 4:30 p.m. to 5:30 p.m. at the Welcome House, 8 North Road, Peace Dale. It is free and open to the public.

“Many people find themselves in crisis from time to time, whether it is medical or personal, and need money quickly to get them through the difficulty. Unfortunately, those at the lower end of the economic scale are only able to access credit from a small sector of the banking industry that often takes advantage of them. Payday loans can quickly trap the recipients in a downward spiral of taking out loan after loan because the original crisis has knocked them off their financial footing.  These predatory loans have the promise of help, but come with astronomical interest rates. People need to know that there are some alternatives, and I am so excited to be the catalyst for bringing the Capital Good Fund to South County to offer residents financial products and educational services that will help them get on more stable economic ground,” said Representative Tanzi (D-Dist. 34, South Kingstown, Narragansett).

The event is meant to provide information about the resources the Capital Good Fund offers to Rhode Islanders to help them with small dollar loans not typically offered at traditional banks, manage their debt and improve their credit. The Capital Good Fund is a nonprofit, certified Community Development Financial Institution that takes a holistic approach to fighting poverty. In helping individuals with budgeting, credit building, debt management techniques, and one-on-one financial coaching, it helps clients achieve the credit necessary to cover emergencies and other costs such as car purchases or repairs, security deposits, computers or home weatherization and empowers them to actually get ahead of the next crisis.

For more information on the Capital Good fund, visit www.capitalgoodfund.org