Community and Ecomic Development

           

A Financial Advancement Network Club - or FAN Club - is a monthly meeting of individuals who are committed to changing their money management habits into ones that allow them to be in control of their financial situations and even their financial destinies.  Each FAN Club runs six months in the “Basic Track” and has the option to continue meeting monthly for another six months in the “Advanced Track.”  Some clubs, because of the strong financial background of the members, may start right away with the “Advanced Track.”

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Participants in the Money Smart Workshops will learn the basics of personal financial planning including how to use bank services, how to start and manage a budget, how to establish and repair credit, where to get help when experiencing financial difficulties, and how to apply for the Earned Income Tax Credit.

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The core of the Home•Buy•Now program is a dollar-for-dollar match of up to $3,000 of City funds per participating employee, which becomes available when a participating employer provides financial assistance to an employee buying a home. 

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You can pay for a home remodeling project with a fixed interest rate loan up to $25,000. The PHIL-Plus loan is perfect for larger-scale home improvements such as kitchen, bathroom or basement remodeling. You can also use up to half of this loan to pay off existing debt.

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You can make repairs to your home by updating your bathroom, installing siding, replacing your roof or making other repairs using the Mini-PHIL Loan. Mini-PHIL loans are up to $10,000. You can also use up to half of this loan to pay off existing debt. 

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“The Philadelphia Business Builder Loan Program provides a pathway for small businesses with higher credit risks to obtain bank financing; typically these requests are denied because of the high risk of loan defaults.  Loans can be used for working capital, inventory, equipment purchase or capital improvements.

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