Our innovative Loan and Matched Savings Program combines small no-interest loans, matched savings, financial mentoring, and financial literacy to empower individuals to create financial stability for themselves and their families.
Loans are provided for a one-time expense at a 0% interest rate. Throughout the loan term borrowers pay 10% self interest that is held in a savings account and returned to the borrower at the completion of the loan. If the participant completes a financial literacy class working with his/her mentor he or she is eligible for an additional dollar-for-dollar match from Project Prosper. (See additional details below).
Loan Program Details
Eligibility (in order to apply for a Project Prosper loan you must):
1. Provide verification of documented status
2. Have lived in the United States 10 years or less
3. Currently live or work in Pinellas, Pasco, or Hillsborough Counties
4. Have been employed continuously for at least 6 months
5. Qualify as low-moderate income
Loan Program Logistics
• The maximum loan amount awarded is $1500
• Borrowers repay their loan over a 24 month loan term
• Loans can be used for a wide variety of one-time uses such as: buying a car, education fees, fees for applying for citizenship or permanent residency, small business development etc.,