On The Road Lending accelerates access to reliable cars in southern Dallas

(Sponsored by JPMorganChase) – Because access to transportation can be a huge barrier to prosperity – especially in southern Dallas – Chase is making a $1 million investment in Dallas-based On The Road Lending to get more people behind the wheel so they can earn a better wage.“Cars have the power to change people’s lives,” said Michelle Corson, who founded OTRL in Dallas eleven years ago. “We are the only community lender in the U.S. making affordable loans on reliable cars as a pathway to prosperity.”By getting a low-interest loan to purchase a fuel-efficient and reliable car, each program participant typically saves about $20,000 over five years, OTRL estimates. A reliable car also provides access to job opportunities with the potential to earn more income.Between 1969 and 2013, the median income for people with cars rose by 20%, while those without fell by 34%, according to the Journal of Planning Education and Research.“Owning a car can have a profound impact on someone’s life. A car can help someone bridge the wealth gap and navigate the opportunity divide between southern and northern Dallas,” said Peter Muriungi, the Dallas-based CEO of Chase Auto. “We should make it easier for folks in southern...