DALLAS -

A nonprofit auto-finance organization launched in Dallas in 2013 and certified by the federal government received quite an injection of funding this week from Goldman Sachs.

On the Road Lending announced on Tuesday that it received a loan of up to $10 million from the Goldman Sachs Urban Investment Group to fuel expansion of its successful initiative across underserved communities throughout the Southeastern U.S. On the Road Lending explained that it helps clients improve their credit and purchase fuel-efficient, reliable vehicle with low-interest loans through its sister loan fund, which is a Community Development Financial Institution certified by the U.S. Department of the Treasury.

“Ultimately On the Road Lending fuels economic mobility and long-term success by providing the engine that drives people’s dreams,” On the Road Lending founder and chief executive officer Michelle Corson said in a news release.

“We’re grateful to have Goldman Sachs recognize through its investment that a car loan through On the Road Lending is life-changing because owning a reliable car increases job opportunities by removing transportation barriers,” Corson continued. “It also improves quality of life through better access to health care, education, and even healthier food choices.”

Since 2001, officials indicated the Goldman Sachs Urban Investment Group has committed $7 billion to underserved American communities. Margaret Anadu, head of the Goldman Sachs Urban Investment Group, elaborated as to why the firm made this commitment to On the Road Lending.

“Access to transportation is crucially important for accessing quality jobs, affordable healthcare providers, and fresh food, all of which are fundamental in bringing more opportunity to underserved areas,” Anadu said.

“We are excited to provide financing to expand the important work On the Road Lending is doing through the Southeast to remove barriers to owning a car and spark economic empowerment,” she went on to say.