The LEDC CrediFirst Loan ranges between $500-$2,500 and is designed to help you start your credit score.
- Up to 36 Monthly Installments
- From $500 up to $2,500
- 4.5% Fixed Interest Rate
- $0 Application cost
- Personalized 1-ON-1 Financial Education
How it Works:
- Apply for a loan
- Meet with a business advisor and receive financial education to improve your credit score
- Set attainable financial goals
Ready to Apply?
You will need:
- Last 3 months of bank statements and last month of pay stubs (if self-employed, only bank statements)
- Government-issued photo identification (driver’s license, passport, etc.)
- No application or closing fees
- Voided personal check
- LEDC intake form
Benefits to You (the borrower)
- All 3 credit bureaus will receive your positive payment history.
- Borrowers without credit history achieve a FICO credit score of over 650 after 12 months.
- Borrowers will learn about budgeting, debt management, and credit-building.
- Borrowers who reduce credit card debt and fix past due accounts and collections observe an improvement of their credit score between 20 to 100 points.
Other Considerations
- No minimum credit score is required.
- Clients are no eligible for this program if they have past-due accounts of over $2,500, tax liens, court judgments, or child support.
- Clients must be current in all credit report accounts (excluding medical payments and traffic tickets).
- If you have recently filed for bankruptcy, please allow a minimum of one year to pass before applying.