Pictured left to right are Branford Microfund treasurer Bob Imperato, chair Mina West, and advisory board member Bill Donaruma.
Inflation is taking its toll on our community, and many are struggling to pay their rent, their monthly bills, and those unexpected expenses that arise. Here in Branford, the financial needs of our residents are very diverse. In the past six months, the Branford Microfund has assisted a range of people, from someone needing $300 for essential medical equipment to a family facing foreclosure on $400K home.
The Branford Microfund is a local non-profit organization run by volunteers and community leaders to help its neighbors during difficult times. They provide interest free loans of up to $3,000 to Branford residents to help lighten immediate financial burdens. Repayment is expected over a maximum of 30 months.
The Branford Microfund represents residents giving each other a helping hand. Their partners include Branford Counseling and Community Services, Women & Family Life Center, Willoughby Wallace Library, Blackstone Library, Branford Food Pantry, Branford Dining Room, and the First Congregational Church of Branford. They work together with the philosophy to “pay it forward” – when a loan recipient repays a loan, the money becomes available to help another person in need.
As one recent loan recipient wrote to say, “Thank you for the effort and consideration you took in approving my application. The money loaned to me helped me pay a few bills and have a bit of financial peace. I look forward to the day I can pay it forward and truly contribute to the Microfund.”
The Branford Microfund can help you, too. See HOW TO APPLY to fill out a pre-loan application online or print out and submit one by snail mail. They promise a quick turn-around in the initial process, which can be done online, even on your phone. Then, their highly experienced loan committee meets with qualified applicants to try to figure out a way to help. “Sometimes people just need to discuss their concerns to move forward,” says BMF chairperson Mina West, “Our team can provide information and referrals to other local or government agenc