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SafetyNet Helps Employee Overcome Unexpected Financial Hardship

When Paul’s wife had to go on medical leave unexpectedly, they found themselves suddenly without half of their income. While usually financially stable, this unexpected loss of income caused them to fall two months behind on their rent. Without a solution, they were worried that this financial hardship could jeopardize their stable housing.

Fortunately, Paul’s employer, participates in a Business Resource Network (BRN) called SafetyNet WORKS!

Paul met with a BRN Success Coach to help him determine the best course of action to help with his current hardship. The Success coach assisted the Paul in applying for DHHS services in an attempt to redirect the family’s remaining cash flow. In addition, the Success Coach collaborated with Northland Federal Credit Union on an emergency loan pilot program.

With help from the Success Coach, Paul was able to qualify for the short term loan, which has alleviated the pressures of the looming rent delinquency and brought them current on rent. He is still waiting to hear about his food assistance application, which would free up cash that would normally be spent on food, to be redirected to other financial responsibilities (i.e. rent). In addition, Paul and his Success Coach were able to create a budget to ensure that further delinquency does not occur. The length of Paul’s wife’s medical leave is undetermined at this time, but they estimate this short term hardship should be resolved in approximately two months.

Thankful that his employer has such a program in place, Paul says, “Everything went great! It was an easy process and I’m very thankful for my Success Coach’s help.”

Created on Friday, February 1, 2019