CONTACT: Debby Hanson, email@example.com
FOR IMMEDIATE RELEASE—On the Road Lending, a nonprofit organization that launched in Dallas in 2013, has announced over $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. The funding will fuel expansion of On the Road Lending’s successful initiative throughout Texas and 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 loan fund, which is a Community Development Financial Institution certified by the U.S. Department of the Treasury.
2019 grants to On the Road Lending came from:
Investments in OTR Fund I, LLC and OTR Fund II, LLC are from:
“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,” said Michelle Corson, On the Road Lending’s Founder and CEO. “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.”