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Get a SAFE Loan

CENTER FOR ECONOMIC OPPORTUNITY (CEO) 

IRC’s Center for Economic Opportunity (CEO) is a non-profit lender specializing in making small-dollar loans to refugees and immigrants. CEO is certified by the U.S. Treasury as a national Community Development Financial Institution (CDFI) and currently has operations in 14 states. CEO currently offers small loans tailored to meet the practical needs of working families and new Americans including loans to build credit, buy a car, pay for training, start a business and other use cases that support overall economic empowerment. CEO does not accept loan applications from clients directly; instead, CEO works through partnership with IRC and other organizations that offer financial education and these partners refer their clients to CEO for financing. 

All CEO loan applications must be submitted with the assistance of an IRC or SAFE financial coach, but CEO makes all final decisions regarding loan approval. Please see How CEO Makes Loan Decisions for more information.  

More information on CEO and their loan products can be found at www.irc-ceo.org. 

 

SAFE LOANS

As part of the SAFE project, CEO is offering the following loan products at 0% APR to Afghan individuals and families that arrive in the US as a parolee, refugee or SIV between July 31, 2021-September 30, 2022. Individuals that do not meet these criteria are still eligible to access CEO loan products at standard rates. 

SAFE Loan Fund Eligibility Updates:

  • Each eligible client may only access a total of two (2) SAFE Loans, NOT including any Credit-Building Ladder loans. Clients may receive two (2) of any of the following loans at the 0% SAFE rate: Auto, Education, Personal, or Immigration.
  • Clients also cannot receive two 0% auto loans.
  • After receiving two 0% SAFE loans, clients may still access CEO loans at traditional rates. This includes fee-based loans.

More information on loan eligibility can be found below and on SAFE Loan Fast Facts.

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GENERAL LOAN APPLICATION REQUIREMENTS

Before applying for a CEO loan, including credit building loans, all applicants must meet the following requirements: 

  • Meet with a financial coach- A financial coach can help you achieve your financial goals and assist you in completing your loan application. To contact a financial coach please reach out to SAFE here.  
  • Attend a Credit Education Class- SAFE is offering live credit classes every month. Class information is located here.  

Auto Purchase Loan  

Auto loans offer funds to finance a vehicle purchase. In addition to the General Loan Requirements above, individuals must meet the following requirements to be considered for an auto purchase loan: 

  • Attend an Auto Purchase Class- SAFE is offering live auto-purchase workshops. The workshop schedule is located here.  
  • Valid government-issued Driver’s License- For information on getting a license, check out information at your state’s Department of Motor Vehicles (DMV).
  • Bank Statements (2 months if available) 
  • Proof of Income and/or employment 

More information on the auto-purchase loan can be found here.

Education and Training Loan 

Education and training loans offer financing to pay for short-term training and achievement of an industry-recognized certificate or credential. Funds can be used towards tuition or direct expenses, such as textbooks, uniforms, and equipment required to complete the course. In addition to the General Loan Requirements above, individuals must meet the following requirements to be considered for an education and training loan: 

  • Training Program Information (including costs for tuition and other expenses related to the training)  
  • Bank Statements (2 months if available) 
  • Proof of Income and/or employment 

More information on education and training loans can be found here.

Immigration Loan 

Immigration Loans offer clients of IRC’s Immigration Services access to flexible financing that can help pay for USCIS fees and/or other expenses related to an active IRC Immigration Services case. In addition to the General Loan Requirements above, individuals must meet the following requirements to be considered for an immigration loan: 

  • Referral or confirmation from IRC Immigration Staff 
  • Bank Statements (2 months if available) 
  • Proof of Income and/or employment 

More information on immigration loans can be found here

Personal Loan 

Personal Loans are small installment loans that offer applicants flexible funds to support their financial health and goals. Common uses include refinancing high-interest debt, car repairs, security deposits/moving costs or paying for unanticipated expenses. In addition to the General Loan Requirements above, individuals must meet the following requirements to be considered for a personal loan: 

  • Bank Statements (2 months if available) 
  • Proof of Income and/or employment 

More information on personal loans can be found here.

 

While you are waiting to schedule an appointment with a financial coach, we encourage you to get started on the items above and register for an upcoming class here! 

Contact us to inquire about getting a SAFE loan.