Board hears pitch to match $100,000 for revolving loans to help families experiencing homelessness

Councilman Meyers and program staff presented a pilot revolving-loan program aimed at helping families with school-age children move from homelessness into stable housing and asked the Petersburg City Public Schools board to match a $100,000 city seed contribution.

Shenica Mlen, a program representative, described the loans as ‘‘no credit based’’ and aimed at people who are typically unbankable. She said the program couples 0% loans of up to $4,000 with ongoing financial coaching and case management so recipients can stabilize and repay the fund to help other families. ‘‘These are folks that would typically be unbankable,’’ Mlen said, adding the coaching can be monthly or more frequent depending on need.

Presenters said more than 50 families have received assistance so far and that roughly half of those participants have seen credit-score improvements. The program can cover a security deposit and first month’s rent and uses repayments to ‘‘revolve’’ funds back to new families. Staff and community members emphasized the program’s sustainability goal: once the pot grows, it can serve more households without repeated new appropriations.

Board members asked clarifying questions about funding sources and oversight. A member asked whether the McKinney‑Vento funds referenced are federal grants; staff confirmed the program relies on federal McKinney‑Vento funding for some cases but said other program components rely on seed money, private donations and coordinated social‑services support. Presenters said they meet biweekly to review cases and work with DSS and employer partners to place families into housing and employment opportunities.

Several board members and community leaders urged broader community fundraising to supplement any one-time match. Mr. Miles and Pastor Davis volunteered to pursue donor and faith‑community partnerships. Program staff said eligibility requires an enrolled child in the Petersburg public school system and includes employment expectations (part‑time work at roughly 25 hours per week) for many recipients; staff also said they will work with social services when employment is not yet established.

The presentation was delivered as an information item; the board did not vote on a funding match that evening. Staff said they will return with next steps after budget planning and follow-up discussions.