2019 was an incredible year for On the Road Lending. We expanded our reach, tried new things and helped more people access affordable and reliable transportation! Here are five major things we did in 2019.
Through grants and impact investments, we truly felt our mission and passion for getting people reliable transportation is understood. In 2019 grants and impact investments totaled $16.3 million with more than $4.7 million in grants for 2019 and $11.6 million in impact investments, including a loan of up to $10 million from the Goldman Sachs Urban Investment Group. We are grateful to these funders and investors who are helping On the Road Lending fuel economic mobility and long-term success by providing the engine that drives people’s dreams. They recognize 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.
2019 grants to On the Road Lending came from:
Bank of America
Community Foundation of Greater Birmingham.
The Marchbanks Fund at the CREATE Foundation of Tupelo
The Hoglund Foundation
JPMorgan Chase Foundation
Rebuild Texas Fund/OneStar Foundation
Stand Together Foundation/Catalyst
State Farm Companies Foundation
Toyota Motor North America
United Way of Greater Houston
Investments in OTR Fund I, LLC and OTR Fund II, LLC are from:
American First National Bank
Bank of Texas
Michelle & Larry Corson
Farm Bureau Bank
Trish Houck & Rev. Dr. Lyssa Jenkins
Goldman Sachs Urban Investment Group (loan)
Inwood National Bank
Cynthia Pharr-Lee & Herb Lee
Dr. Bobby Lyle
Rebuild Texas Fund/OneStar Foundation
SLH Corporation/Sharron Hunt
Barbara & Gene Sanger
Thomas Heritage Foundation
United States Treasury CDFI Fund (grant)
Abby & Todd Williams
We launched this site quietly in 2019 but will be driving new users to it aggressively in 2020. In addition to hiring a new Director of Latino Services & Outreach, the website is a big step in focusing on an important segment of our community. In addition to our Spanish-language site, we will be using social media to engage with the Spanish-speaking community. Along the way, we’ll keep you updated on the many events where we’ll be sharing our story. If you know of any opportunities, please let us know!
When we realized we were going to hit this milestone in 2019, we took a look at the amazing, inspiring clients who were determined to complete their loans. One of our clients even paid off her loan in only six months! We’re seeing lives change for the better because of vehicle ownership through our affordable loans. Our clients are building their credit scores—many are establishing credit for the first time—and increasing their incomes. One client saw a three-fold increase in income!
Technically this happened in late 2018, but in 2019 we hit the gas and made a real push to expand in Alabama, Georgia and Mississippi. We now have a Regional Director for Southeastern United States, we’ve been working with community partners to reach as many people as possible, and we’ve already started lending to well-deserved, hard-working people in these states. We’re looking forward to making an even bigger impact in this region in 2020.
Our staff was invited to some amazing events where we’ve been able to share what we do with larger audiences. A couple of our favorite moments in 2019: When Regional Director-North Texas Shaylon Scott spoke with conviction at Fed Listens: A Conversation in Southern Dallas, and when Regional Director-South Texas Lucretia Jelks discussed how On the Road Lending is making a difference in the aftermath of natural disasters on Money Matters with Christopher Hensley. We ended the year with the Community Partner of the Year Award from Goodwill Industries of Houston! Our funders, investors and partnerships mean so much to us, and we’ve had a great year building new relationships, strengthening established relationships and growing together.
With 2019 in our rearview mirror, we have our eyes set on a record-breaking 2020!