GOODWILL INDUSTRIES
Ways to Work Car Loan Program
Webinar Training -- November 10, 2010
WHAT IS WAYS TO WORK?



A special loan program to help people with limited income
purchase a used car
Provides loans up to $6,000 with 8% interest and a payback
period of 3 years
Supported by a grant from Walmart, the Ways to Work
Program, and Goodwill Industries of San Antonio
WHO QUALIFIES FOR THE PROGRAM?
Participants must meet the following criteria:

Be an involved parent







Grandparents with legal custody of grandchildren under 18
Be a resident of Bexar, Comal, Guadalupe, or Wilson
Counties
Presently not own a car and able to provide proof
traditional car loan was denied due to low credit score
Be employed with same employer for at least 6 months
Have enough income to cover repayment plan
Have poor credit rating (<580) or no established credit
Meet income guidelines (80% Area Median Income)
80% AMI
1
$32,050
2
$36,600
3
$41,200
4
$45,750
5
$49,400
6
$53,050
7
$56,750
8
$60,400
WHAT ARE THE PARTICIPATION REQUIREMENTS?


Must attend a 2-hour orientation and financial literacy
class
Must use a Ways to Work-approved car dealer for your
car purchase



We will provide a list of car dealers we have a contract with
Must purchase car within 2 weeks of loan approval
Must notify the Loan Coordinator if you move, change
employment, etc.
WHAT ARE THE STEPS FOR QUALIFICATION?

STEP 1: Attend an orientation and financial literacy class

STEP 2: Complete an application and submit supporting
documents



4 page application
Basic demographic info
STEP 3: Wait for loan committee review



Loan Committee meets once a month
Please note: Loan can still be denied even if all phases and
conditions of eligibility are met
The entire qualification and approval process can take 4-6 weeks
OTHER QUESTIONS?
Here are some frequently asked questions:

Can I qualify if I receive SSI?


What about if I am paying back child support?


You can if you are employed for at least 6 months with the same
employer and working part-time (20 hours or more)
If your child is over 18 and in college, you may apply
What if I have a car that is about to give out?

We must have proof that the car is either not worth the money
to fix or repair parts are difficult to find due to car age. A letter
from a mechanic stating this can serve as proof
FOR MORE INFORMATION…

Mary Aguilar, Ways to Work Coordinator



[email protected]
210-924-8581 ext. 5517
Crystal Gonzalez, Ways to Work Assistant


[email protected]
210-924-8581 ext. 5518