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Faith Community Homes starts loan program for struggling families

A single mother, who found herself buried under debt after going through a divorce, is the first recipient of a micro-loan program started by Faith Community Homes and funded with seed money from the Viatorian Community. Both organizations are based in Arlington Heights.

The no-interest loan concept aims to help struggling, low-income families who are currently in the Faith Community Homes supportive housing program. The loan will help them manage their debts and move toward greater financial stability and independence. This new aspect of the FCH program drew the support of the Viatorian Community, who provided the seed money to help launch the new program.

Faith Community Homes offers housing assistance, as well as many other kinds of support, to financially troubled working families with children, who have the potential for improving their lives. Along with some rental assistance from FCH, families meet each week, for up to two years, with trained volunteer mentors who guide them toward financial independence. Members of the families in the program are encouraged and assisted to improve their skills through education or training and, thus, increase their earning power. Along the way, their mentors and case manager help them become debt-free, develop good budgeting skills, build self-confidence, find resources to enrich the lives of the children and strengthen family relationships.

The Viatorian Community Is dedicated to providing assistance to impoverished urban and rural families. "We remain committed to addressing the issue of poverty, and working with organizations to alleviate it no matter where it is experienced, " says Br. Michael Gosch. "This is a chance to make an immediate impact, with families right in our own backyard.

The seed money for the micro-loan granted by the Viatorians will be replaced through the families' repayment of their loans and then reused for many families into the future.

The young mother who received the first loan "would have had to quit her college classes and work full time to try to pay off her debts", says Sr. Carrie Miller, the FCH program manager. "We recognized her motivation and drive to create a better future for herself and her family, and we wanted her to continue with school."

Faith Community Homes is holding their annual fall fund raising event on Sunday, October 28, 2012 at the Metropolis Performing Arts Centre in Arlington Heights from 4:00 to 6:30 pm. “Comedy Tonight” is the program and promises to be a fun evening with comedian Mike Toomey. Tickets are $30 each, 4 for $100.

For information about Faith Community Homes, call 847-342-0846 or visit the website www.fchomes.org.

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