Olympia Micro Loans for Commute Bikes

A new option for folks needing a commute bike exists at local financial institutions in the form of micro loans.

Bikes are serious transportation, and a good, durable bike, properly outfitted for commuting can cost more than some folks have at their immediate disposal; a realistic figure would be $1650* Options to deal with this include layaway, though that means the rider only gets their bike when it is fully paid off. Credit cards are another avenue, but not everyone has one, and their interest rates are often sheer usury.

At least two local financial institutions, TwinStar Credit Union and TULIP Credit Union offer micro loans to help bike buyers afford the transportation they need today. <a href="https://www.twinstarcu.com">TwinStar</a> recently started their Green Means Go bike loan program. It entails an 11.99% rate for 12 months. Their promotional information provides an example that a $2000 loan would entail monthly payments of $177.72. Like all things, however, the program has its limitations. Only the purchase of the bike and sales tax qualifies -- not the accessories*.  This leaves the would-be commuter to make up the rest of the amount on their own or with the help of a credit card company. What to do?

Perhaps <a href=""http://www.tulipcu.coop>TULIP</a> has a solution in their Personal Loan program. TULIP caters to low-income folks build and work with their credit histories. Their program provides for loan up to $2000, with no apparent limitations on how that money is used. TULIP's loan rate can vary according to the borrower's credit score. According to someone I spoke with there, this could range from 9.75% to 18%. So for folks with good credit, this program might really be the "ticket to ride."

* That figure would buy: A Jamis Coda Sport with: fenders, cargo rack, waterproof panniers, U-lock, head and tail lights, mirror, water bottle and cage, saddle pack for toolkit (including tire levers, patch kit, spare tube, multi-tool), pump, chain oil, plus a helmet and gloves for the rider. One could put together a package costing more or less, though this is a quality bike and accessories that will stand up to daily commute use (and just like for cars, city riding is tougher on bikes than long-distance riding due to all the starts, stops and shifting involved).

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- Larry Leveen

OlyBikes Locally-Owned Bike Shop

"Bikes, Parts, Repairs and GREAT Customer Service"

124 State Avenue NE

Olympia, WA 98501

Phone: 360-753-7525

http://www.olybikes.com

(FREE bike safety & advocacy  materials)

http://olybikes.blogspot.com/

also on Twitter & Facebook

Posted via email from OlyBikes' posterous

Bike & Pedestrian Improvements coming to Jefferson & 14th in Oly

Construction of a new Department of Information Systems (DIS) building at Jefferson & 14th (the tunnel under the capitol campus that leads drivers to I-5) will incorporate a few improvements for cyclists and pedestrians. Most notably, the intersection will be converted into a roundabout with crossing "refuge" islands. These allow non-motorized travellers to cross each direction of traffic separately; it is much easier to get motorists attention in two chunks rather than all at once. True, currently there is a signal which gives pedestrians a designated time to cross, but that still requires motorists to stop for them and also, personally, I hate waiting for signals as a pedestrian. I'd rather make eye contact to help ensure drivers are stopping and then cross. As someone who often walks through both roundabouts as well as signalized intersections, I get through roundabouts a lot faster.

Cyclists will probably enjoy the extension of the I-5 Bike Path to this revamped intersection. Currently, the path is  somewhat hidden and/or awkwardly ends in a cul-de-sac, depending on one's direction of travel. I know cyclists who have lived here years and still do not know how to find that path to head east on it. Once this project is completed, though, a prominent trail head will be at the intersection assisting folks in recognizing there is a path there. Being that it connects to other non-motorized trails in our region and connects to a major employment center, this is a good improvement.

An acrobat file of the plans can be found at: http://www.dis.wa.gov/commtg05212009.pdf

Currently, there is no further plan to better integrate non-motorized travel to and through the Capitol Campus, but rumor has it that there is a project to study that issue. More as it comes.

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- Larry Leveen

OlyBikes Locally-Owned Bike Shop

"Bikes, Parts, Repairs and GREAT Customer Service"

http://www.olybikes.com

Phone: 360-753-7525

(website features FREE bike safety & advocacy  materials)

Posted via email from OlyBikes' posterous