Applicant Eligibility

The following are established as applicant eligibility standards.

1. Be a resident of Northern Virginia
2. Must be low income (up to 200% of Federal Poverty Level)
3. Be 18 years or older and an involved parent of a minor child
4. Be employed for at least 90 days continuously
5. Must be working a minimum of 20 hours per week
6. Must have disposable income of at least $80
7. Have all utilities current
8. Submit a $60 loan processing fee

Additional Expectations for applicants

1. Complete a Financial Literacy Training session before loan settlement
2. Must register for local Rideshare program
3. Agree to the terms of repayment including the assessment of late fees and other sanctions
4. Must demonstrate the ability and willingness to repay the loan as determined through the application process.
5. All bankruptcies must be discharged by the court
6. Must have exhausted other available loan sources or have a history that would prevent loan approval from conventional lending sources

Who is Not Eligible

• Staff members or volunteers of administering agencies who are involved with the loan program.
• Anyone currently in or filing for bankruptcy (Chapter 13 or 7), until the debt is discharged.

Loan Terms

1. The interest rate charged to a borrower will not exceed 8%.
2. The terms of the loan up to 24 months.

Please contact the WTW Loan Case Manager for more information (703) 219.2144

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