GAC MEMBER LOAN OVERVIEW:
The GAC Member loan program provides interest-free loans up to $500 to members of the Grand Avenue Club (GAC) to help with temporary financial needs. Applicants are required to have sufficient income to repay the loan and must be referred by a GAC senior staff member.
1. Submit the online application (click link below).
2. Read the confirmation email that you receive after submitting.
3. Email or fax your proof of income, bank statements, and lease or mortgage statement (as required in the email), along with the bill(s) you need to pay or other documents related to your particular financial goal.
Loan Committee Review:
Once all documents are received and credit reports are completed, if the applicant qualifies, then the loan committee will meet to review the application within one to three days. Once approved, loan documents will be signed and the loan funds will be disbursed.
Each loan payment schedule will be tailored to the individual client.
Repayment will begin about 30 days after receiving the loan.
All payments will be made via monthly ACH transactions from the client's bank account.