by Dave Warner

Most people in the City don’t know what the Little Falls Micro Fund is, or that it even exists, but it’s a small non-profit organization that provides interest-free loans up to $2,000 with a two-year repayment period.

Think Local Little Falls has decided that they are going to focus on getting the word out about the organization during the month of November and the 30 days of Thankfulness campaign, and they have put donation canisters inside of local businesses.

Elaine Cobb with Think Local said, “Last year, we collected for individual charities. This year we decided to only collect for the Micro Fund and that it was a two-pronged attack. One was to let people know about the Micro Fund, and two, to collect money for it because it benefits those people who have been most affected by this pandemic.”

Cobb says that personal stories about how the fund has helped people are the best way to let everyone know what it can do.

“There was this woman who applied for a loan because she needed repairs done on her car. When the fund goes to approve a loan, they look at your budget and they determined that she was renting a washer and dryer and they told her they could actually pay off the washer and dryer, still give her the money for the car repair and she would be paying less per month (to pay the loan back) than she was currently for paying for just the washer and dryer.”

“I think that’s a great story,” she stated.

Another story that Cobb told was, “Another woman applied for a car repair loan and upon review of her finances, they discovered that her pension check company had been withholding taxes for the IRS although she had not filed for three years because she didn’t need to. They were able to help her recapture the money that was being taken by the IRS. She was able to recover three years of withholding taxes. It’s really a great little thing that people can apply for.”

There is no credit check and you must be 18 years or older, a Little Falls resident, unable to obtain or afford a traditional bank loan, and demonstrate the ability to repay the loan.

The loan can be used for car repairs, medical/dental expenses, a security deposit, a small business emergency, job training, tuition assistance, or licensing/exam fees.

“If you pay the loan off on time, that makes you eligible for another loan,” said Cobb. “One person has had three of these loans. You have two years to pay off the loan and there is no interest collected.”

To find out more, read their brochure below, or visit

Little Falls Micro Fund Brochure 11-2020 Edits