Forth is collaborating with Metropolitan Family Service (MFS) on the new Electrified Ways to Work program. Addressing the needs of low-income earners, MFS is offering a $5,000 incentive for the purchase of an EV or $500 toward the purchase of an e-bike! Eligible are residents of the City of Portland.
Low-interest loans are available to qualified individuals for the purchase of electric cars, electric motorcycles, and e-bikes in Portland. People who might not otherwise qualify for a loan may be able to purchase a form of electrified transportation through this program. Loans for electric vehicle purchases are offered for up to $12,000.
Program participants receive budget and credit coaching as needed to prepare them for the loan so that Electrified Ways to Work can be a credit-building opportunity. Borrowers pay back loans at a below-market interest rate.