Foellinger Foundation Issues $100,000 Grant to Brightpoint

Foellinger Foundation awards a $100,000 Special Opportunity Grant to the Community Loan Center of Northeast Indiana. Operated by Brightpoint Development Fund, the Community Loan Center partners with local employers to give their team members access to low-cost loans up to $1,000 with manageable repayment options, offering a better alternative to payday loans. This Foellinger Foundation grant funds Brightpoint’s loan loss reserve, which results in $1 million in available lending.

In northeast Indiana, 7% of families living paycheck to paycheck regularly utilize payday loans, with interest rates averaging 365% APR. Families use payday loans for various reasons, including medical emergencies, vehicle repairs, or paying overdue bills. The high interest rates trap borrowers in a cycle of debt.

“We’re excited to partner with Brightpoint for this Special Opportunity Grant,” shared Sarah Strimmenos, President and CEO of Foellinger Foundation. “Inflation impacts have taken a toll on self-sufficiency in Allen County. Wages needed in 2025 to sustain a family of four have risen to over $80,000, up from just over $54,000 in 2020. Brightpoint offers these affordable small-dollar loans through the Community Loan Center, which do not carry the high interest rates of payday loans. This access helps prevent individuals from sliding backward on the Independence Continuum and moves people toward financial independence.”

“We’re deeply grateful to Foellinger Foundation for this Special Opportunity Grant,” said Steve Hoffman, Brightpoint President and CEO. “This support strengthens our mission to help borrowers manage their finances, cover unexpected expenses, and work toward financial stability.”