Programs offered by credit unions, banks and some nonprofit organizations that provide loans specifically designed to help low income people build their credit in order to avoid the costs that accompany a low or nonexistent credit score. Most of the loans are in the $500 to $1,000 range making them reasonable to pay back. Borrowers make payments over time, typically a year or two. The money may be placed in a locked, interest bearing savings account and can be accessed by the individual once the loan is paid off. Secured and unsecured credit builder loans may also be available.