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Consumer Small Dollar Loan

The Community Loan Center (CLC) is a national franchise, small dollar consumer loan program. There are 20 franchises across the nation and the Community Loan Center of West Central Indiana, operated by Homestead Resources, is one of the leading franchises. Leveraging its certification as a Community Development Financial Institution (CDFI) the organization partnered with other likeminded CDFI’s in separate markets to join forces to combat predatory payday lending in their communities more effectively by offering reasonable alternatives to those seeking financial assistance.

  • CLC initiated its first consumer loan in 2016.
  • Originated 3,289 loans loaning $3,178,985 in capital to assist individuals and families with financial goals.
  • Saved our families over $11.7 million in interest charges that would have otherwise crippled their financial wellness.
  • Last year, the CLC provided 491 loans lending $480,344.

How it helps clients

The Community Loan Center is a low-cost alternative to expensive payday loans. This employer-based, small-dollar loan program saves clients hundreds in interest and fees. The loan program is easy and convenient. Money is deposited directly into the client’s checking account within one day of employment verification. No credit history needed, no collateral, and take up to 12 months to pay. Repayment is made through payroll deduction. There is no credit check or collateral needed. Payments are reported to credit bureaus to help build credit scores.

For more information about the Community Loan Center contact Joe Seaman at joe.s@homestead-resources.org.

Community Loan Center Partners

  • Anderson Plumbing
  • Area IV Agency on Aging
  • Arni’s, Inc.
  • Bistro 501
  • BK Management
  • Bauer Family Services
  • City Bus–Greater Lafayette Public Transportation
  • City of Lafayette
  • City of Monticello
  • City of West Lafayette
  • Columbia Title, Inc.
  • Dayton-Phoenix Group, Inc.
  • DeFouw Nissan of Lafayette
  • Fairfield Township
  • Food Finders Food Bank, Inc.
  • Gibson Painting Group, Inc.
  • Greater Lafayette Commerce
  • Haley’s Lock and Key
  • Homestead Resources
  • Indiana Council of Community Mental Health Centers
  • Industrial Plating, Inc.
  • Jordan Manufacturing Comp., Inc
  • KBM Mechanical
  • Lafayette Family YMCA
  • Lafayette Transitional Housing Center, Inc.
  • Mental Health America of Tippecanoe County, Inc.
  • Mental Health America–Wabash Valley Region
  • Mulhaupts
  • Oscar Winski Co., Inc.
  • Piece by Piece Autism Centers
  • Plans to Prosper, LLC
  • Riggs Community Health Center
  • Right Steps Child Development Centers
  • Saint Anthony Healthcare
  • Shook Property Management
  • The ARC of Greater Boone County
  • The National Group
  • The Shook Agency
  • Tippecanoe County
  • Top Shelf Wood Packaging
  • UAW Local 531
  • United Way of Greater Lafayette
  • Valley Oaks Health
  • Wabash Center, Inc.
  • Westminister Village
  • Willowstone Family Services
  • YMCA Camp Tecumseh, Inc.
  • YWCA of Greater Lafayette
Become a CLC Partner today

Partner Testimonials

“The Community Loan Center program is awesome – it is easy and very convenient for our employees and us as an employer.”
Lisa Kantz
Human Resources, Top Shelf Lumber
"At the Lafayette Family YMCA, we deeply appreciate the support provided by Homestead through the Community Loan Center program. The small personal loans of up to $1,000 have been an invaluable resource for our employees, helping them manage unexpected expenses and achieve greater financial stability. This partnership with Homestead has significantly contributed to the well-being and peace of mind of our team members."
Paul Cramer
CEO, Lafayette Family YMCA
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