MICHA Partnership

What MICAH does:

• The MICAH Program serves people located in Greenville, SC and its surrounding counties

• The MICAH Program helps individuals (called neighbors) in financial distress with financial counseling and/or small, low-cost loans.

• A MICAH loan in intended for the one-time support of a borrower who suddenly needs to borrow money. (Note – MICAH does not make loans to pay for past due rent)

• MICAH Program loans are provided by Self-Help Credit Union (SHCU), with an interest rate of 4% over the then current savings deposit rate (current loan interest rate is approximately 4.25%), to be repaid over a term of between 12 and 18 months.

• The borrower is expected to be able to repay the loan and live with their budget, which includes normal ongoing expenses of food, rent, and utilities.