CIF partners with a wide variety of organizations from churches, nonprofits, credit unions and for profit companies to establish Impact Loan funds from which qualified employees and community partner employees can request an Impact Loan in an anonymous and dignified manner.
Through each organization’s individualized fund, CIF serves as the loan administrator and offers a 0% interest-free loan with an extended payback schedule to meet individual needs. To qualify for a loan, an individual (borrower) applies through their organization’s customized loan platform for consideration.
CIF conducts diligence to ensure the borrower qualifies for assistance under IRS regulations and CIF policies and procedures. Once approved for their Impact Loan, a distribution of the approved amount will be made directly to the individual’s (borrower’s) bank account.