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Credit Start
Credit Building Loan

This loan program will provide an opportunity for individuals who are credit-invisible or individuals who have a credit thin file to apply for a small dollar loan that will help build your credit without a security deposit requirement.

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Borrowers will also receive one-on-one financial coaching education that will help to strengthen their financial practices. 

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Loan proceeds will go directly into a locked savings account; released upon loan completion. Applicants will be making deposits into a savings account for twelve months. 

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Required Documents for Loan:

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  • A valid Government-issued photo ID

  • Three months of personal bank statements

  • One month of proof of income

  • If self-employed – 3 months of business
    bank statements

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Eligibility Criteria:

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  • Be a DC resident 

  • Be of 18 years of age

  • Must be able to provide proof of ability to repay the loan

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Benefits of the Program:

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  • No up-front cost or fees

  • We will not require a security deposit amount for the loan

  • If unbanked, CAAB can assist the applicant in establishing a bank account with a
    financial institution.

  • Payments will be reported to the credit bureaus, creating a positive credit history that
    can help to establish a credit score.

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