Alante Financial Offers Loans to Help Salvadorans Renew TPS Visas
Alante Financial has launched a new program offering small loans to make it easier for Salvadorans to renew their Temporary Protected Status (TPS) visas. The loans will help these individuals cover the $420 cost per person for renewal, and they are available to those who file their permit extensions during the 60-day re-registration period, running until October 22, 2007. Alante Financial uses the methodology of microfinance, widely practiced in developing countries, to responsibly serve those who lack access to mainstream financial services.
gGiven the importance but cost of this visa for TPS holders, especially those with large families, it is our priority to accommodate these individualsf needs,h said Atsumasa Tochisako, President and CEO of Microfinance International Corporation, which owns and operates Alante Financial. To make it easier for clients to repay, the company offers loans with transparent payment schedules provided in advance, and requires no collateral, such as pre-dated checks. In addition, the loans help customers, many of whom are unbanked, to build a credit history. There are about 234,000 Salvadoran TPS holders, who left their country due to a civil war and natural disasters. Their visas need to be renewed every 18 months.
Alante Financial is the retail arm of Microfinance International Corporation (MFIC), a DC-based private company, whose mission is to make affordable, professional financial services available to poor communities in both developing and industrialized nations. Through its branch network, Alante Financial offers products and services that are tailored to meet the needs of underserved immigrants in the US, including low-cost remittances, consumer finance and insurance products.
gGiven the importance but cost of this visa for TPS holders, especially those with large families, it is our priority to accommodate these individualsf needs,h said Atsumasa Tochisako, President and CEO of Microfinance International Corporation, which owns and operates Alante Financial. To make it easier for clients to repay, the company offers loans with transparent payment schedules provided in advance, and requires no collateral, such as pre-dated checks. In addition, the loans help customers, many of whom are unbanked, to build a credit history. There are about 234,000 Salvadoran TPS holders, who left their country due to a civil war and natural disasters. Their visas need to be renewed every 18 months.
Alante Financial is the retail arm of Microfinance International Corporation (MFIC), a DC-based private company, whose mission is to make affordable, professional financial services available to poor communities in both developing and industrialized nations. Through its branch network, Alante Financial offers products and services that are tailored to meet the needs of underserved immigrants in the US, including low-cost remittances, consumer finance and insurance products.