How to Apply

Ossining microfund smile Each of the referral groups can tell an applicant about the fund and help to fill out a simple form stating the amount and purpose of the loan and the schedule of repayments (limit within two years). The repayments make funds available for others who need them. Please note: there are no legal papers to sign. All that is needed is a letter promising to repay the loan. Borrowers are not asked for collateral or cosigners. If the loan is approved at the next month’s meeting, a check awaits the applicant at The Ossining Community Center.

Follow Up

Every borrower is assigned a liaison person from the fund committee. This person will have a monthly meeting (by phone or in person) with the borrower, offering advice on how to find resources in the community. If the borrower runs into unexpected problems, a revised payment schedule may be arranged.

After repaying the loan, a borrower may request a letter that will help establish a credit rating, to be used for bank loans. Borrowers are also invited to join the fund committee and to participate in future loan decisions.