Thursday, June 24, 2021

Local News

A Hand Up: Branford Microfund Increases No-Interest Loan Limits to $3,000

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Non-profit Branford Microfund is now allowing Branford residents who demonstrate a need to borrow up to $3,000, interest free, with up to 30 months to repay these loans. Branford Microfund was founded in 2020 and began its effort to assist those in need in the community by offering no interest loans of up to $2,000.

Image from Branford Microfund

Non-profit Branford Microfund is now allowing Branford residents who demonstrate a need to borrow up to $3,000, interest free, with up to 30 months to repay these loans. Branford Microfund was founded in 2020 and began its effort to assist those in need in the community by offering no interest loans of up to $2,000. Image from Branford Microfund)

Non-profit Branford Microfund (BMF) is excited to announce an increase in the amount of the no interest loans we provide. We are now allowing Branford residents to borrow up to $3,000 interest free and our clients have up to 30 months to repay these loans.These loans provide a hand up not a hand out. Loan recipients must complete a short application form, demonstrate need, and have the ability to repay the loan. If needed, BMF will help prepare loan applications and provide mentoring and guidance with the process.

Examples of the type of unexpected expenses we wish to help with are, emergency medical needs, and home or car repairs. All loan requests are looked at individually and we will work to give as quick a response as possible.

We are a nimble and responsive organization for Branford residents. We understand that the pandemic has complicated everyone's life and we hope to be a means of providing help, relief and clarity. hese changes are in response to the continuing challenges of the pandemic, that confront us all.

The goal is to create a rotating fund that allows help when needed and then provides the means for others to benefit in the future when the loan is repaid. We have a website branfordmicrofund.org and a Facebook presence as Branford Microfund. We are a non profit 501(c) 3  organization and appreciate the very generous support we have received from local organizations and individual donors. Please help pass the exciting news around our community.

Branford Microfund was founded in 2020 and began its effort to assist those in need in the community by offering no interest loans of up to $2,000. For more information, visit branfordmicrofund.org

 


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