It’s a service that provides small loans to people who face eviction or hardship because of a personal emergency.
The Vancouver Rent Bank, which has been run by the Network of Inner City Services Society since 2012, helps prevent people ending up on the streets, but the organization is facing a funding shortfall of $30,000 for operational costs.
Manager Amanda Pollicino says it’s is because an annual donation from the Vancouver Foundation has ended.
She says the gap isn’t capital money used for loans, but will still hurt people looking for help.
“We’re not necessarily able to be as efficient. There’s often opportunities that we can advocate for individuals, so we can reduce how much they borrow from us by finding them other funding sources, but we don’t have that capacity right now because we don’t have the extra manpower,” she says.
She says the rent bank had two full-time employees, but are now running it with one.
“It’s keeping the lights on, it’s making sure that we are paying and have oversight and management and supporting our fron tline staff when they are having spikes in people coming in. And it’s also managing and making sure we are able to account for all the funding and loans are coming back in.”
The City of Vancouver continues to fund the rent bank with $49,000 a year.
Pollicino says the rent bank provides about 130 loans a year.