The Solution
Impact Loans
0% Interest Loans that Create Financial Well-being for All
What Is An Impact Loan?
Impact Loans are charitable loans that meet the community right where their needs are, which is access to capital to bridge their cash flow so that they can start saving and get out of debt.
It is a 0% interest rate loan, with a flexible payback schedule, that automatically helps the borrower to save for an emergency through our savings incentive.
This fully automated, tech-enabled, process was built around respecting the dignity of the applicant. At the same time unlocks the collective generosity of your employees and members as a way to show support and give a hand up to those in our community who need it most.
Impact Loans
How It Works
Impact Loans are a way to help you achieve financial well-being by giving you access to an interest-free loan that has an extended payback period. It also helps you save for emergencies. They are interest-free and are not reported to the Credit Bureau.
Step #1 – Apply
The first step to receiving an Impact Loan is to apply online. It is a fast process that is anonymous so that you don’t have to worry about sharing your situation with anyone beyond The Community Impact Fund who administers the loans on behalf of Activate Work RISE Program. No one at Activate Work RISE Program will ever see your application or related documentation. Once approved for an Impact Loan, your funds will be disbursed directly into your bank account via ACH.
Step #2 – Cover Your Expenses
The second step is to use the proceeds of your Impact Loan to cover any emergency expenses that would otherwise set you back further financially as described in your loan application. Examples of eligible expenses include:
- Housing expenses (rent, mortgage, utilities)
- Healthcare
- Childcare
- Transportation
- Food
- Technology
- Taxes
- Debt
- Other (funeral expenses)
Step #3 – Build Savings
Part of financial well-being is having the security of an emergency fund. Activate Work RISE Program believes in this so much, we want to provide an added bonus for you once you pay your Impact Loan back in full. This step was designed to speed up your progress toward building an emergency fund on your own. Once you pay your Impact Loan in full then you can start working towards your Savings Incentive. Click here for more information.
