Above: Redbud’s new office building at 825 High Street in Hazard, KY.

Redbud Financial Alternatives

Fair loans, credit recovery, and financial coaching - rooted in Eastern Kentucky

Redbud Financial Alternatives is a nonprofit Community Development Financial Institution (CDFI) serving Eastern Kentucky. Redbud provides fair, affordable loans and financial education designed to help people build stability, strengthen credit, and move toward their goals.

Redbud is an affiliate of the Housing Development Alliance (HDA) and is in the process of becoming an independent organization – created to focus specifically on financial health as a foundation for strong housing and thriving communities.

What Is Redbud - and Why It Exists

Many people in Eastern Kentucky have the skills, determination, and work ethic to succeed – but lack access to fair financial tools.

Redbud was created to fill that gap.

As one of only four certified CDFIs in all of Eastern Kentucky, Redbud:

Offers an alternative to high-cost and predatory lenders
Designs loan products around real community needs
Helps clients turn credit from a barrier into a tool

Financial stability isn’t just about money – it affects housing, employment, education, and health. Redbud exists so people can make progress without being trapped by harmful debt.

How Redbud is Connected to HDA

Redbud Financial Alternatives began as an affiliate of the Housing Development Alliance because housing stability and financial stability are deeply connected.

HDA focuses on housing: building, repairing, and redeveloping homes
Redbud focuses on finances: fair lending, credit building, and coaching

While Redbud has its own leadership, staff, and services – and its own website – it remains mission-aligned with HDA. Together, the two organizations support long-term stability for individuals, families, and communities.

What Redbud Offers

Fair, Affordable Loans

Redbud’s loans are designed to meet real needs – without hidden fees or exploitative terms.

Emergency Loan

A $500 loan designed to help clients escape the payday lending cycle.

Fixed monthly payments over 12 months
Replaces high-cost payday loans
On-time payments help build credit

Personal Loan

Flexible financing for things like:

Car repairs
Major purchases
Meaningful life needs

HDA homeowners may also use personal loans for home repairs.

Debt Consolidation Loan

Refinance multiple high-cost debts into one affordable monthly payment.

Simplifies finances
Reduces interest and fees
Clients save an average of $1,250

Auto Loan

Reliable transportation is essential in Eastern Kentucky.

Purchase or refinance a vehicle
Includes a free credit review
Helps borrowers shop confidently and responsibly

Financial Education & Credit Coaching

You don’t have to apply for a loan to work with Redbud.

Redbud offers:

Free credit reviews
One-on-one financial coaching
FICO Score Open Access Program

During a credit review, staff walk through each line of your credit report to identify:

What’s helping your score
What’s holding you back
Practical steps to move forward

The goal is not just approval – it’s long-term financial capability.

Our Impact

Redbud’s work delivers measurable results for individuals and the broader community.

In Fair Loans Originated

$ 0 +

East Kentuckians Served

0 +

Loans Disbursed

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Redbud is:

Certified by the U.S. Treasury as a CDFI
A member of the Credit Builders Alliance

“I’ve been working towards getting a home. I’m a single mother of two kids. We all three have always either shared a bedroom or have been in a small 2-bedroom apartment. I would have never got my credit score up and my car payments lowered if it hadn’t been for Redbud helping me refinance my car loan and guiding me with tips to improve my credit. Redbud refinanced my car loan from a 22.9% interest rate down to an interest rate of 6%, saving me $200 a month. They have worked with me and got me in the position of being able to get a home, which is something I never thought I’d be able to do!"

"I would absolutely recommend Redbud! Not only did they provide me with a semi-solution to a much bigger problem, but they also gave me all of these tools to use and all of these different resources to help me make decisions that will get me out of debt the fastest. I would most definitely recommend Redbud to anybody who is going through a rough time financially."

"If someone were to talk to me about having money troubles, I would tell them to go check out Redbud! They helped us so much! It won’t cost you anything to go there and talk to them. Let them go over your finances with you, and they’ll work something out and see how they can help you. Look at it this way: if they can save you money, that’s going to go right back into your pocket!"

"Redbud gave us a loan to consolidate all of our debt except for our student loans. This lowered our debt ratio to below the 17% limit, and we were then eligible for HDA's Homeownership Program! We purchased our new home in March of 2017 and have been overjoyed to raise a family in our forever home."

"When I needed cash for unexpected expenses, I accepted a loan from two online lenders operating under tribal laws. I was paying over $580 a month on these two loans with an APR in the 700% range! Redbud was able to make me a $1,700 loan to pay off both of these predatory loans, saving me $500 a month in interest and fees."

"I work at Lowe’s in Hazard and was purchasing a used car that would have been financed through a high-cost lender. Redbud gave me one of its first 'Cars to Work' Auto Loans - a $6,557 loan, saving me over $2,300 in interest plus the high fees that I would have been charged!"

Where to Find Us

825 High Street in Hazard, KY

Ready to Learn More?

If you’re wondering whether a loan – or financial coaching – is right for you, Redbud’s team is ready to talk.

James Caudill, Managing Director
Office: 606-716-6100, ext. 104

Timothy Baker, Director of Lending
Office: 606-716-6100, ext. 103

Naomi Farris, Financial Wellness Coach
Office: 606-716-6100, ext. 102

If you call or email, someone from Redbud will respond within one business day.

1. Is there a cost for home repairs?
Yes – but repairs are made affordable. Most homeowners receive a combination of grants and low-interest loans based on income, household size, and the type of repair needed. We will explain all costs before any work begins.

2. Do I have to own my home to qualify?
Yes. The home must be owner-occupied, meaning you own the home and live in it. We are not able to repair homes you plan to move into or homes owned by someone else.

3. What kinds of repairs can you help with?
We focus on critical health and safety repairs, accessibility improvements, and major home rehabilitations. This can include roofs, floors, plumbing, electrical issues, ramps, HVAC (through a subcontractor), and more. Cosmetic repairs are generally not eligible.

4. How long will it take to hear back after I get started?
Due to high demand – especially following recent flood disasters – response and wait times are longer than usual. After you submit the Get Started form, our staff will contact you when your request reaches the next step. We appreciate your patience.

5. Why are there two forms?
We use two forms to make the process easier and more efficient for homeowners. The Get Started form is a short first step that lets us understand your situation and determine which repair programs may be a good fit. After reviewing that information, an HDA staff member will contact you to talk through next steps. The Home Repair Intake form is the full application and collects detailed information needed to determine eligibility and funding options. Most people begin with Get Started – our team will help you from there.

6. Does flooding affect my eligibility?
We assist homeowners who were affected or impacted by flooding, whether repairs are flood-related or not. Flood-related needs may qualify for specific funding sources, but all requests are reviewed individually.