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Loan Guidelines

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

  1. 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.
  2. Applicants should possess U.S. citizenship or valid immigration documents.
  3. Applicants should show satisfactory evidence of the ability and desire to remain in the area during the term of the loan repayment.
  4. Applicants should be unable to obtain a loan from traditional channels, and their needs cannot be met by family, community, or government resources.
  5. 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.
  6. The level of assistance will make a significant difference for the family or individual.
  7. 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.
  8. Applicants should demonstrate an ability and willingness to repay the loan on mutually agreeable terms.
  9. Loans in connection with the purchase of housing shall be limited to assistance with the down payment.
  10. All loans will be interest free.
  11. As a general rule, loan payment programs should not exceed 5 years.

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