Loans are available for one time expenses such as:
medical or dental expenses
licensing and/or test 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.
If your application is approved, a check will be issued and you will be required to sign a repayment agreement. A monthly repayment schedule will be included in the agreement. Loans must be repaid within 24 months.
There are two options for loan repayment:
An OMF representative will mentor you through our process. If you encounter unexpected problems with repayment, contact your partner or mentor and a revised payment agreement may be arranged.
When repayments are complete, the loan recipient may request a letter that can be used to establish his/her credit.
To apply for a loan, you fill out a few short forms – an application and a budget worksheet. Forms are available at one of our many partnering agencies or you can download them here by clicking the document name below.
THE PARTNERING AGENCY HAS NO FINANCIAL LIABILITY!
A monthly repayment schedule is included in the agreement. All loans must be repaid within twenty four months. Repayments make the funds available for others who need them. All that is needed is an agreement promising to repay the loan.
As a partner, you will