Silicon Valley Community Foundation & City of San Jose Tackle Payday Loan Practices
The Mercury News just reported on how NCG member Silicon Valley Community Foundation may be working with the City of San Jose to address the effects of payday loans, a service that provides short-term bridge loans to individuals, typically with high interest. Three stories in this:
- SVCF is investing. As Bruce Trachtenberg’s summary at the The Nonprofit Quarterly notes, The City of San Jose is poised to apply for a $200K grant from SVCF to
- The foundation is researching and advocating. A current grantmaking strategy for economic security specifically targets Anti-Payday Lending Policy Advocacy, supported by research and some tracking of media response.
- And they are using public-private partnership. After working with the community to develop a policy advocacy position, this work with the City of San Jose could be an important next step effecting change at the municipal and State levels.
help research ways to slow, even halt the number and locations of payday shops, most likely through zoning restrictions similar to those that have been used in other cities.
NCG just published a case study of SVCF’s Anti-Payday work at P4: The Philanthropy Public Policy Portal. Take a look at those and the other case studies we’re posting up there, and let us know if your foundation is engaged in similar strategies.
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Northern California Grantmakers is an association of foundations, corporate contributions programs and other private grantmakers. Its mission is to promote the well-being of people and their communities in balance with a healthy environment by the thoughtful and creative use of private wealth and resources for public benefit. To this end, NCG works to enhance the effectiveness of philanthropy, and to strengthen the ties between philanthropy and its many stakeholders; including nonprofit organizations, government, business, media, academia, and the public at large.
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Tags: articles, City of San Jose, communityFdns, economy, Public Policy, research, Silicon Valley Community Foundation