Ways to Work Loan
Criteria
The Ways to Work loan program provides loans to help
low-income parents keep a job. Approved loan purposes
include:
Loan Amounts
Loan amounts may not exceed:
$4,000 for cars *
$750 for car repair (consideration given for value
of car)
* Amount may include car insurance,
safety check, and registration.
Loan
Terms
1. The interest rate charged to a borrower will not
exceed 8%.
2. The terms of the loan is 12-24 months.
Applicant
Eligibility
The following are established as applicant eligibility
standards.
1. Be a resident of Northern Virginia in the counties
of Arlington, Fairfax, Loudoun, Prince William, and
the cities of Alexandria, Falls Church, Fairfax, Manassas,
and Manassas Park.
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 average of 20 hours per
week
6. Must have disposable income of at least $80
7. Have all utilities current
8. Submit a $35 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.
Download the
Ways to Work Brochure
Download the Ways
to Work Application
Download the
Ways to Work Poster in Spanish
Background
In 1984, the Family Loan Program was developed by
the McKnight Foundation to assist families throughout
Minnesota. In 1996, McKnight partnered with the Alliance
for Children and Families (then Family Service America)
to expand the program nationally. In 1998, the Alliance
arm of the Family Loan Program became a separate entity
by incorporating itself as a non-profit organization
called Ways to Work, Inc.
Organization
Ways to Work, Inc. is a subsidiary of Families International,
Inc., a sister organization to the Alliance for Children
and Families and a Community Development Financial
Institution (CDFI). The Ways to Work loan program,
and its predecessor the family loan program, has operated
in 20 states and loaned more than $24 million to nearly
18,000 families. By enabling families to cope with
their financial crises, the loans helped these families
get off and stay off of welfare.
CONTACT INFORMATION
Northern Virginia Family Service
703-385-3267
