A Better Loan Experience (ABLE)

Amount: $200 – $1,500
Interest Rate: 12% annual interest/APR (1% monthly)
Non-cash: We will cut a check made out to the party in need of payment
Repayment / Loan Term: Generally 12 months, with monthly payments
Repayment Method: Direct deposit or automatic withdrawal

To participate, you must:

• Have gathered financial information on your household income, expenses, debt, etc.
• Have been employed for at least 12 months for an average of at least 30 hours/week (this will be verified with your employer)
  OR
  have another form of steady income for the past 12 months
• Make less than 250% of the federal poverty level for your household size
• Be at least 18 years old
• Have a Social Security Card (the card cannot state “NOT VALID FOR EMPLOYMENT”)
• Have a driver’s license or valid, government-issued ID
• Provide two months of current pay stubs, a profit & loss statement if you own a business, or other proof of income
• Provide proof of address via a utility statement, cell phone bill, or lease agreement showing your current address
• Have $5 to open a bank account at Pyramid Federal Credit Union (they will provide the loan)
• Provide contact information for two references who do NOT live in your household
• Be willing to set up monthly payments via payroll deduction or automatic bank transfers
• Understand that ABLE is a needs based loan and all loan proceeds will be paid directly to vendors or creditors. You will NOT receive cash.

Please note that additional information may be requested and that income limits apply.

If you are interested in applying, please use the link below to apply online.

If you have questions, feel free to contact us!

To AVOID a high-interest loan, contact Anne Marie at 520-622-2801, x7114 or annemaries@ccs-pio.org
To PAY OFF a high-interest loan, contact Nick at 520-529-1766, x209 or nick@cictucson.org (se habla español)