Couleecap, Inc. currently has funding available through the Work-N-Wheels program to provide 0% interest car loans and car repair grants for those who are securely employed and meet income requirements. The program serves households in Vernon, Crawford, La Crosse, and Monroe counties.
The loan program is for applicants who may have been turned down by a traditional lending institution due to a low credit score or flaws in their credit report. Applicants for the loan program must be employed for at least 90 days or self-employed for at least year. Applicants must demonstrate a need for a vehicle to get to and from work and must show the capacity to pay a loan payment, full coverage insurance payment, and vehicle maintenance costs every month. The maximum loan amount is $4,500. Participants must pay the tax, title, and licensing fees for the vehicle they purchase, as well as a five percent administration fee.
Applicants must be employed and have received their first full paycheck. Funds cannot be utilized for cosmetic repairs or maintenance costs such as oil changes. Eligible applicants will be required to pay for at least 25% of the repair, all taxes, and any charges beyond Couleecap’s maximum payment.
For more information, contact Couleecap’s Work-N-Wheels Program Specialist, Krista Heinz, at 608-634-7371.