EMPLOYEE LOAN PROGRAM OVERVIEW:
The MJFLA Employee Loan program provides interest-free loans to residents of Southeastern Wisconsin to help with temporary financial needs. Applicants are referred by their employers who guarantee loan repayment. Applicants are required to have sufficient income to repay the loan.
1. Submit the online application.
2. Read the confirmation email that you receive after submitting.
3. Email or fax your requested documents (itemized in the confirmation 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 payroll deduction.