Process
Determine eligibility
Complete application
Assignment of Micro Fund mentor
Screening Committee for approval
Begin loan repayment
Loans are available for one time expenses such as:
security deposits
medical or dental expenses
licensing and/or test fees
legal fees
job related expenses
one time tuition assistance
small business emergencies
Note: Loans are NOT available for ongoing business, educational or living expenses, except in cases where a one time opportunity or obstacle exists.
Ask us! Let us get to know you and your situation to see if we can help.
Complete an Application
Fill out the following one-page application. All applications must be accompanied by proof of income (paystubs) and any other documentation that supports your need for a loan. For instance, this might include invoice for unexpected dental work, car repairs, etc. You can submit these documents to us by mail (PO Box 4010, Ossining, NY 10562) or by email ([email protected]).
The Ossining Micro Fund, Inc. does not share information provided to it with anyone outside of our organization. Any information provided to us is stored using a secure, industry-standard, data management system.
Following submission of your application you will be contacted by a member of our screening committee who will mentor you through the process of applying for, receiving and paying back your loan. During this meeting, we will assist you in completing a monthly budget worksheet.
Screening Commitee
When all documents have been received and after meeting with an OMF mentor your loan will be submitted to the Screening Committee for approval. It can take up to two weeks to get a decision although it is usually faster.
Loan Repayment
If your loan is approved, you will be asked to meet again with your mentor to receive your check, sign final documents and make arrangements to repay your INTEREST FREE Loan. A monthly repayment schedule will be included in the agreement. Loans must be repaid within 24 months.
PLEASE NOTE:
- If you encounter unexpected problems with repayment, contact your mentor and a revised payment agreement may be arranged.
- When repayments are complete, you may request a letter that can be used to help establish your credit.
If you have any questions on how to apply for a loan please contact us at
[email protected] or call us at (914) 236-0560