On The Road Lending Program Evaluation
In this report, Michael Swack, Jolan Rivera, and Sanjeev Sharma discuss the results of the On The Road Lending (OTRL) program evaluation.
OTRL and its sister CDFI, On the Road Sustainability Funds (OTRSF), share a common mission to promote prosperity within America’s working families through transportation and financial innovation. While OTRL and OTRDF measure and report on many environmental, social, and financial outcomes, the most important are economic mobility measures and improvements in quality of life, namely, greater agency, and control of options through more wealth and time (OTRL, 2021).
OTRL clients work with a coach who provides vehicle purchase assistance, financial education, and long-term financial coaching. When the coach believes the client is ready, they recommend them to OTRSF, which actually makes the loan. For ease of reading, this report will use “On the Road Lending” or “OTRL” to refer to both OTRL (the services entity) and OTRSF (the loaning entity).
The Carsey School Center for Impact Finance at the University of New Hampshire was tasked by OTRL to conduct an evaluation of the efficacy of the vehicle loan program.