A Brownsville native who presides over Dallas’ D & M Leasing, Micheal Albert (Mike) Hernandez III also stands out as a philanthropist. In addition to founding the Hernandez Foundation, Mike Hernandez III donates to the Society of St. Vincent de Paul.
The Dallas-area Society of St. Vincent de Paul operates a mini-loan program that assists people who have depended on predatory loans to get by in finding a way out of the cycle of debt. Some payday and auto title loan companies charge interest rates up to 500 percent APR. St. Vincent de Paul has partnered with a local Texas bank to convert those high-interest loans into a new low-interest loan. The mini-loan program also helps participants set up a savings account and offers training in financial management.
The loan conversion program is possible because the Society of St. Vincent de Paul cosigns each loan. So far, no one has defaulted on the converted loan. Donors are needed to continue financial support of the program, which aims to convert loans for 70 people per year. For more information, call (469) 607-0909.
The Dallas-area Society of St. Vincent de Paul operates a mini-loan program that assists people who have depended on predatory loans to get by in finding a way out of the cycle of debt. Some payday and auto title loan companies charge interest rates up to 500 percent APR. St. Vincent de Paul has partnered with a local Texas bank to convert those high-interest loans into a new low-interest loan. The mini-loan program also helps participants set up a savings account and offers training in financial management.
The loan conversion program is possible because the Society of St. Vincent de Paul cosigns each loan. So far, no one has defaulted on the converted loan. Donors are needed to continue financial support of the program, which aims to convert loans for 70 people per year. For more information, call (469) 607-0909.
