Lender that believes in self-help opens in Kinston
KINSTON, N.C. (AP) — A North Carolina non-profit that provides financial services and advocacy for those left out of the economic mainstream is opening its 10th location in Kinston.
The Center for Community Self Help has been around since 1980 and the opening celebration for the Self-Help Credit Union in Kinston is scheduled for Wednesday.
The Durham-based organization is a micro-credit lender that collects money from private investors, grants and deposits and lends to small businesses, non-profits, homeowners and consumers. Self-Help’s loans have the goal of building economic opportunity, especially for minorities, women, rural residents and the poor.
Micro-lenders like Self-Help share the principle that low-income borrowers aren’t any greater credit risk than other borrowers because they consistently prove their determination to repay their loans, build their businesses and improve their communities.