Ways to Work Evaluation

Report
More than a car!
Jeffrey E. Faulkner
President
Overview of Ways to Work®

Lender of last resort for working poor families

A hand-up, not a handout

The loan is our tool, The car is the carrot

Cars as earning assets

Financial real world, but ...

Clients move on (without WtW)
Scale and Scope

Nationwide network of loan offices


Gaining economic scale


55 offices in 25 states today
About 1,500 car loans worth about $5M in 2005
Significant impact over time

Since ’96, nearly $21M loaned to >10,000 families with a repayment
rate exceeding 86%
Key Employment Outcomes

Car helped >90% of borrowers maintain or
improve employment

Nearly 2/3 cited a reduced tardiness or days missed
at work or in job training

About half link their ability to complete education
programs to car ownership
Net Earnings Outcomes

Net income (take-home pay) increased by an
average of 41%

About 3/4 of participants reported higher income
after receiving their car loan

82% of borrowers who once received public cash
assistance sustain themselves without these
payments after receiving their car loan
Quality of Life

Nearly 80% of parents of young children were able to
upgrade their daycare situation because of the car

Car enhanced ability of >95% of borrowers to get kids to
school on time and better access to extracurricular
activities and medical care

About 90% found that the car gave them more time with
friends / family, for work around the home, and enhanced
their ability to attend church or take a vacation

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