Credit Building

What is Credit Building?

Credit building is a free, nonprofit service available from New Growth to help individuals establish or improve credit scores. A good credit score is necessary to access employment, housing, and bank financing, and for going into business. A good credit score also saves you money through lower borrowing costs, insurance rates, and more. It’s about moving more rural people and small businesses into the financial mainstream.

What is Credit Building?

Credit building is a free, nonprofit service available from New Growth to help individuals establish or improve credit scores. A good credit score is necessary to access employment, housing, and bank financing, and for going into business. A good credit score also saves you money through lower borrowing costs, insurance rates, and more. It’s about moving more rural people and small businesses into the financial mainstream.

Make an Action Plan

We work one-on-one to review your credit history and make an action plan for increasing your credit score. We offer assistance building new good credit in addition to outlining steps for addressing old bad debt. A small credit building loan is a safe and manageable option for those with no credit score or little credit activity; it’s a way to establish and show good payment history.

Make an Action Plan

We work one-on-one to review your credit history and make an action plan for increasing your credit score. We offer assistance building new good credit in addition to outlining steps for addressing old bad debt. A small credit building loan is a safe and manageable option for those with no credit score or little credit activity; it’s a way to establish and show good payment history.

How Does a Credit Building Loan Work?

New Growth’s “Give Yourself Credit” loan is a safe way for those with no credit score or little activity to demonstrate creditworthiness and increase credit scores. It is a one-year $500 loan, of which $300 goes to a secured credit card. Making regular on-time payments on the loan and the card puts two types of credit activity onto your report (revolving and installment). New Growth reports to credit bureaus so this activity shows up, and adds up. Payments are $45 per month at 15% interest. A credit building loan can improve scores significantly in a short period of time.

How Does a Credit Building Loan Work?

New Growth’s “Give Yourself Credit” loan is a safe way for those with no credit score or little activity to demonstrate creditworthiness and increase credit scores. It is a one-year $500 loan, of which $300 goes to a secured credit card. Making regular on-time payments on the loan and the card puts two types of credit activity onto your report (revolving and installment). New Growth reports to credit bureaus so this activity show up, and adds up. Payments are $45 per month at 15% interest. A credit building loan can improve scores significantly in a short period of time.

DONATE