Loan applicants should be referred to EVFAF by a recognized human resource agency, religious organization, approved financial organization, employer, or, on occasion, by individuals.
Loan applications will be reviewed on a case-by-case basis. The primary consideration for approval will be whether the need fits within the above mission statement.
Other Key Criteria
- Applicants should live and/or work in Eagle County. Leadville may be considered as part of our primary area as many workers in the Eagle Valley live there. Any other area would be an exception.
- Applicants should possess U.S. citizenship or valid immigration documents.
- Applicants should show satisfactory evidence of the ability and desire to remain in the area during the term of the loan repayment.
- Applicants should be unable to obtain a loan from traditional channels, and their needs cannot be met by family, community, or government resources.
- The financial need constitutes a genuine hardship, adversely affecting the individual or family unit, or the financial assistance will provide the individual or family with better employment stability or the potential for a more secure housing situation.
- The level of assistance will make a significant difference for the family or individual.
- The maximum loan amount shall be $5000; however, we have the option to increase that amount if the client has the ability to repay the loan in a five-year period and has a strong work history.
- Applicants should demonstrate an ability and willingness to repay the loan on mutually agreeable terms.
- Loans in connection with the purchase of housing shall be limited to assistance with the down payment.
- All loans will be interest free.
- As a general rule, loan payment programs should not exceed 5 years.