Microloans - Establishing Opportunities & Hope

Establishing Opportunities & Hope

The De Novo Foundation of San Antonio has partnered with PeopleFund to establish a program that offers selected clients the opportunity to receive a 0% interest microloan from PeopleFund.

This program, funded by The De Novo Foundation, ensures that interest rates will never rise above 0% for all approved clients. The client will only have to pay back money borrowed from PeopleFund, according to the timeline they establish with PeopleFund.

Here’s how it works:

  • An applicant expresses interest in obtaining a microloan
  • The De Novo Foundation will review the applicants request and verify that the person requesting the microloan meets necessary criteria (low income, purpose of microloan, and likelihood of repayment)
  • The De Novo Foundation will refer the client to PeopleFund
  • PeopleFund will conduct their own review process

If approved for the program:

  • PeopleFund will notify The De Novo Foundation of its decision to approve a microloan for a client
  • PeopleFund will notify the client of its decision and begin preparing documentation for the client
  • PeopleFund will facilitate all aspects of the microloan including a realistic repayment plan for the client
  • The De Novo Foundation will periodically check in with the client for feedback on the program and overall satisfaction of the client

The De Novo Foundation/ PeopleFund Microloan Program is exciting for a number of reasons:

  • Clients can rebuild credit scores that have been damaged by bad investments, divorce or other circumstances
  • Clients can improve their existing credit scores by making regularly scheduled payments on time
  • With higher credit scores, clients can qualify for larger loans and lower interest rates for things like houses, automobiles, and other future purchases. This interest-free loan program is funded entirely by The De Novo Foundation. The De Novo Foundation contribution only ensures a 0% interest loan (through PeopleFund) to the client.
De Novo Foundation

Why De Novo?

The De Novo Foundation of San Antonio is helping the marginalized and homeless of San Antonio achieve their goals and fulfill their dreams. Where there is anxiety and fragility, De Novo wants to bring security and stability. We want to help our clients reach self-sufficiency.

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