Pay it Forward
The Direct Assistance Loan Program for Loudoun County Residents
|Thank you for your interest in the Pay It Forward Loan Program. The Loan Fund is currently fully subscribed and no longer accepting applications at this time. Please check back for additional information, as funds become available in the future. |
For additional local and state resources and information guides related to the COVID-19 crisis, please click here.
Pay It Forward is a Direct Assistance Loan Program for Loudoun County residents. This loan program believes that there is no one-size-fits-all to what constitutes a “need.” As such, Pay it Forward remains flexible, and responsive to applicants as they assess their own unique circumstances and identify where financial assistance will make the most difference in their lives and the lives of their family.
This program was established by 100WomenStrong in direct response to help meet the needs of Loudoun County residents during the COVID-19 crisis. Pay it Forward has evolved and grown since its initial inception to meet the evolving needs of the residents of Loudoun county. Between the support of the community, and the dedication of recipients repaying their loans, this sustainable loan program can pay those funds forward to help the individuals, families, and communities of Loudoun County thrive!
What can loans be used for? ▼
Pay it Forward believes that a person’s needs, when unmet, can spiral into greater needs, and even financial crisis which can then affect their family and community. Need can take many forms from the basic necessities to assistance while waiting for the first paycheck from a new job, to costly textbooks, or even unexpected car repairs.
How much can be borrowed? ▼
Loans are capped at $2,000.
How is the loan repaid? ▼
Loans can be repaid for a duration of up to 36 months. Loans are interest-free for the first 6 months and after that a simple interest rate of 2% will accrue each month until the loan is repaid.
Why does the loan have to be repaid? ▼
The goal of Pay it Forward is to not only assist individuals in meeting their needs but to do so in a sustainable way. The repayment of each loan ensures that we can help someone else meet their needs. The small amount of interest collected from each loan works to grow the fund to assist even more Loudoun County residents. So, by paying a loan back, it is actually paying it forward!
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Pay it forward loan program
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