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Economic Justice Fund
What We Do

Economic Justice Personal Loans

We make borrowing affordable

Fair and flexible financing designed for a wide range of purposes

The affordable Economic Justice Personal Loan offers low interest rates, no fees, and free credit building services. Our flexible underwriting means that we often can approve borrowers who may not qualify for loans from other lenders. Loan amounts range from $500 to $20,000, and you can use the money in a variety of ways.

  • Debt consolidation
  • Pay off credit cards
  • Emergency expenses
  • Medical or dental expenses
  • Household expenses
  • Home or car repairs
  • Moving expenses

FAST, AFFORDABLE, FLEXIBLE

Fast Funding

We deposit the funds to your account on the next business day after we approve your loan.

 Low, Fixed Interest Rates

Interest rates between 7.5% – 9.95%. The low rate is fixed for the life of the loan, so your rate and monthly payment never change. The maximum APR is 14.95%.

 No Hidden Fees

You pay no application fees, servicing fees, or prepayment fees. An origination fee of 5% is deducted from the loan.

Flexible Terms

Loan terms range from 12 to 60 months. We work with you to determine the term that’s right for you.

It’s easy to apply

There are three simple steps:

  1. SEE IF YOU ARE ELIGIBLE
  2. SUBMIT YOUR LOAN APPLICATION
  3. GET FUNDED!

Q&A

Am I eligible for an Economic Justice Personal Loan?

You must be a U.S. citizen, permanent resident, or visa holder and must be 18 years old or older. The Economic Justice Personal Loan is currently available only to borrowers in California.

How much can I borrow?

You can borrow from $500 to $20,000 with the Economic Justice Personal Loan.

What is the interest rate?

We provide fixed interest rates that range between 7.5% – 9.95% based on various factors including an applicant’s employment history, income, and credit report. The interest rate on the Economic Justice Personal Loan is well below what you would pay at traditional banks and most other lenders.

What is the Annual Percentage Rate (APR)?

The total cost of your loan includes the interest rate and the origination fee. APR represents an accurate cost of borrowing and can be used to compare annual loan costs across different loan options. The maximum APR on the Economic Justice Personal Loan is 14.95%. APR on the Economic Justice Personal Loan is well below what you would pay at traditional banks and most other lenders.

Is there an example showing the total cost of a loan?

If you’re approved for a $10,000 loan with a 9% interest rate and 5% origination fee, the APR would be 12.54% over the 36-month term. Below is a real-life example for this $10,000 loan that explains the rates and fees:

ANNUAL PERCENTAGE RATE

The cost of your credit as a yearly rate

12.54%

FINANCE CHARGE

The dollar amount the credit will cost you

$1,947.90

AMOUNT FINANCED

The amount of credit provided to you or on your behalf

$10,000

TOTAL OF PAYMENTS

The amount you will have paid after making all payments as scheduled.

$11,947.90

NUMBER OF PAYMENTS

36

AMOUNT OF MONTHLY PAYMENTS

$318

WHEN PAYMENTS ARE DUE

Your first payment will be due one month after the issuance of your loan and then monthly thereafter. Payments are due on the same date each month. If your due date is the 29th, 30th, or 31st, and the current month is shorter, your payment will be due on the last day of the month.

INTEREST RATE

9%

ORIGINATION FEE

5%

TOTAL AMOUNT TO YOU

$9,500

How much time will I have to pay back my loan?

The term will range from 12 to 60 months depending on the type and amount of your loan. We will work with you to determine the term that is appropriate for you.

Economic Justice Fund is a U.S. Treasury Department emerging Community Development Financial Institution. Loans will be made or arranged pursuant to the California Department of Corporations Finance Lenders License #6089475. All loan applications are subject to credit approval. Pricing and terms are subject to change.