Richmond security deposit loans and grants help lower income families

Your next move may not happen if you cannot come up with a security deposit. These Richmond area programs may provide you with the cash you need towards the security deposit on your next home or apartment.

For starters, the City of Richmond has been receiving federal funding in the form of Emergency Solutions Grants. These funds are provided to individuals and families who are at-risk of becoming homeless. That means that if your family is classified as lower income and you have received an eviction notice, you might be able to receive either back rent payments or financial assistance in the form of a grant to be used as a security deposit on your next home.

Emergency Solutions Grants are distributed through the Continuum of Care agencies that are committed to helping families remain in safe and affordable housing. Funding is provided to help families avoid eviction.

Homeward is one Richmond organization that helps struggling families come up with alternatives to eviction. Call 804-343-2045 to schedule an appointment with a case manager.

Saint Paul’s Baptist Church maintains the Central Intake Service for Families with Children. Call 804-291-9082 to speak with an intake counselor.

Contact the Conrad Center at 804-648-4177 as a third option. The Conrad Center maintains the Central Intake Service for Single Adult Men and Women.

Depending on your family situation, some agencies may better be equipped to help you than others. Ask what their criteria are and be prepared to answer questions about your family size, household income and any documented disabilities.

Seniors aged 65 or more also may have access to grants to cover security deposits and part of rent payments. The city’s Auxiliary Grant Program provides cash to supplement your monthly payments. There are also payments available for those who are disabled or blind. For more information, contact Social Services by dialing 311 or by calling 804-646-7000. Be sure to also ask about any utility assistance or additional benefits such as food stamps that you may benefit from.

The Virginia Department of Housing and Community Development Program provides a Homelessness Prevention Program using state dollars. This money cannot be obtained directly through the agency. Instead, you must apply through one of the supported organizations that receive this funding. To find the agency serving you, call 211 or one of the participating organizations directly.

Commonwealth Catholic Charities has some rental assistance available on a very limited basis. Call 804-545-7200. This charity serves Henrico County and surrounding counties.

If you are located outside of Richmond, you may still get assistance through Henrico County Department of Social Services. Call 804-501-4001 to speak with a case manager. They will schedule your intake appointment so that you may discover what rental assistance you may qualify for.

There are several consumer finance companies that provide high-interest loans if your family does not qualify for one of the above grant programs. These can be used for security deposits or to cover your first month’s rent. However, you should only apply with care, since these loans can be difficult to repay due to the high cost.

Finally, see if one of the Richmond area credit unions will help you with your security deposit. If you have steady income and meet their membership requirements, then you might have access to lower cost loans. The Virginia Credit Union, Henrico Federal Credit Union, Call Federal Credit Union, Argent Credit Union, Entrust Financial Credit Union and Dominion Credit Union are some of the better known institutions serving Richmond and Henrico County.

Whether you choose a loan or a grant, make sure that you focus on finding safe and affordable housing that you can remain in for at least a year. Make all of your rent payments on time so that you will maintain a positive rental history that can be referenced the next time that you move. If you ever do find yourself in trouble of skipping rent, call one of these helpful agencies above to get the help you need.