NeighborWorks Laredo pitches employee loan program; commissioners authorize MOU for payroll‑deducted loans
NeighborWorks Laredo proposed a small‑dollar loan program for Webb County employees with loans up to $1,500, an 18% interest rate and payroll deduction repayment; the court asked staff to prepare an MOU and authorized participation pending that agreement.
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Elizabeth Alonso Villareal, chief executive officer of NeighborWorks Laredo, told Webb County Commissioners Court the organization can administer small‑dollar loans to county employees to provide an alternative to payday lenders. Alonso said loans are repaid by payroll deduction, carry an 18% interest rate and a $20 origination fee, and are designed to report on‑time payments to credit bureaus to help participants improve their credit history.
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