For many low-income families, a reliable car can be the difference between work and welfare. In 1998, the Transloan Program was launched using the well-designed and self-sustaining Family Loan Program as a model. The Transloan is solely for welfare to work recipients.

For many people, particularly single parents, the Transloan is credit of the last resort.

Working with TCC Loan Officers, welfare recipients move to self-sufficiency by building a good credit history. As one customer said, "My 'starter car' is a little short on beauty and style. But short-term it gets me to work and my child safely to day care. Long term I expect to use it as a trade-in for my next car."

To be considered for a Transloan, you must be part of the Minnesota Family Investment Plan (MFIP) and be referred by Rural Minnesota CEP. You do not need to meet the three-month employment criteria of other loan programs; but you must have a valid offer of employment. In other words, you will not be approved for the Transloan while looking for a job, but you will be approved as soon as you have a bona fide job offer. 

Smart shoppers start the application process the same day they start the job search. This helps streamline the paperwork and also gives needed time to shop for a car. See article Tips for Checking Out Used Cars.

• Must be employed, have a bonafide offer of employment.
• Must have one or more dependent children
• Meet MFIP guidelines and be referred by Rural Minnesota CEP or Social Services.
• Must be a resident of Crow Wing, Morrison or Todd County
• Must be unable to obtain a car loan through other lenders
• Must have a valid Minnesota Driver's License
• Must be able to make loan payments and maintain car based on household budget
• Must be able to obtain/afford automobile insurance