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Local Benevolent Fund outlines microloan program and interagency work to supervisors
Summary
A representative of the Rappahannock Benevolent Fund told the Board about a bridge program, monthly interagency coordination and a new microloan product; the Fund currently holds 11 microloans totaling about $44,000 and partners with regional foundations and social services.
A representative of the local Benevolent Fund (presented at the Dec. 1 Rappahannock County supervisors meeting) described programs intended to move residents toward self-sufficiency, including a bridge program, financial-awareness classes and a new microloan initiative.
"We're a small organization, but I think we make a huge impact in this community," the presenter said, outlining the Fund’s bridge program (six current participants), a recent financial-awareness course, and ongoing monthly interagency meetings with RAP at Home, the Food Pantry, Encompass and the Department of Social Services. The presenter said the interagency meetings were started to better serve clients who present overlapping needs and are not open to the public because staff discuss client-specific information.
On microloans, the presenter said the Fund has extended 11 loans, with an aggregate value of about $44,000. She said most loans are zero-percent interest and some payments are as small as $50 per month to help recipients rebuild credit and move out of repeated reliance on one-time assistance.
Board members asked about the Fund’s fiscal position and grant partners; the presenter said the Fund sees roughly a 50/50 split between individual donations and grants, and named PATH, the Northern Piedmont Community Foundation and two private foundations as funders. The presenter said the Fund’s annual dinner and a private grant for home repairs helped produce a stronger-than-usual fund balance this year, but she cautioned the Fund remains small and focused on a handful of cases at a time.
Supervisors thanked the presenter for the work and asked follow-up questions about program scalability and reporting.
