How Impact Investors Alleviate Poverty By Funding Affordable Car Loans
“When she looked around, she saw that people were unable to get better jobs, access good food, or take their kids to the doctor—all because they lacked transportation to get them there in a time-efficient way. Corson focused on helping working Americans get affordable loans to buy newer cars that are fuel efficient and with low mileage. Newer cars are less likely to break down and if they do are under warranty.
Transportation is crucial to escaping poverty, writes Mikayla Bouchard in The New York Times. For the vast majority of Americans, having a car is essential to economic equality. Most of the country does not have dependable public transportation, making timely travel difficult for some working Americans.”