Tioga Opportunities, Inc.\u2019s Home Appliance Loan Program (HAL) offers low interest loans to low- to moderate- income individuals and families in need of a major appliance including refrigerators, freezers, stoves, washers and dryers, and air conditioners. <\/p>\n
Participants apply to the program, provide proof of income, and have a demonstrated ability to make on-time payments, which will be reported to the three major credit bureaus. TOI will purchase new appliances from a local vendor who will deliver and install the appliance in the participant\u2019s home. <\/p>\n
Traditional \u201crent-to-own\u201d entities charge extremely high interest rates, often resulting in the buyer paying four times the cost of the actual appliance over an extended period of time. TOI strives to empower individuals and families with the skills and tools necessary to achieve financial stability and independence. The HAL program is one way to gain an asset and build good credit.<\/p>\n