Sandy Spring Bank and Vehicles for Change announced a new partnership through which the organizations work together to provide cars with loan terms to families with financial challenges. According to a release, in 2013, Vehicles for Change, in need of a partner bank in the Washington D.C. region, approached Sandy Spring Bank and asked for help to provide transportation to individuals for employment purposes. Vehicles for Change receives donated cars from the public, repairs these cars and awards them to families with financial challenges. Car recipients pay as little as $750 for their vehicle; this is financed through a loan that Vehicles for Change guarantees. These families typically have difficulties qualifying for loans or obtaining loans with a manageable interest rate on their own. Sandy Spring Bank immediately stepped in to assist by offering low-interest loans to families receiving cars from Vehicles for Change. "We award cars every day to families in the area. It's necessary for us to have a lender who can provide the loans at an affordable rate, and we're pleased to work with Sandy Spring Bank to provide these loans," said Marty Schwartz , President of Vehicles for Change. "The loans are important because they allow deserving local families to receive cars, and help them to build credit." " Sandy Spring Bank is happy to be partnering with Vehicles for Change because we're committed to improving the lives of local families," said John Goedeke , SVP, Treasury Management Division Leader at Sandy Spring Bank . Through Vehicles for Change and Sandy Spring Bank , the Group noted that low-income families across the Washington D.C. region will become vehicle owners and have transportation for their families. More Information: www.sandyspringbank.com www.vehiclesforchange.org ((Comments on this story may be sent to firstname.lastname@example.org ))
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