0% Interest Microloans
In these uncertain times you can breathe easy again. Good Counsel Services has you covered as we announce our new 0% Interest Emergency Loan Program for entrepreneurs for social good.* We are able to extend our hand to those in need due to our incredible sponsor Ford Seeman, founder of Forest Founders and Righteous Causes.
In order for Good Counsel Services to get this emergency 0% interest loan to help your qualified social good business, you simply have to follow these easy steps:
Submit your Statement of Need (here);
Once approved, sign the one-page Letter of Understanding for funds to be administered;
Provide one piece of identifying information/photo ID (passport, drivers license, etc.); and
The 0% Interest Emergency Loan will be sent through electronic ACH (Automatic Clearing House) via Chase or TD Bank;
In rare cases, if the loanee does not have a viable bank account, funds will be transferred through Zelle.
The loan amounts will be provided in 3 (three) increments to simplify repayment terms:
A) $500.00 B) $1,000.00 C) $1,500.00
Repayment of ALL loans will not begin until September 1, 2020 however, you are provided options to pay earlier if desired.
A) $500.00 – 5 (five) month repayment (September, 2020 thru January,
2021) @ $100.00/mo.
B) $1,000.00 – 8 (eight) month repayment (September, 2020 thru April, 2021)
C) $1,500.00 – 10 (ten) month repayment (September, 2020 thru June, 2021)
If you are based in the New York City metropolitan area, we recommend you first looks at the generous offerings from our friends at Hebrew Free Loan Society. For everyone else, Apply now! For the Statement of Need you should provide a brief description of your situation, the nature of your work, how the COVID-19 epidemic has affected you, and what the funds will be used for. Our goal is to keep you and your social good entrepreneurial business on its feet.
Remember to wash your hands and take a sigh of relief – because we are here to help!
The Team at Good Counsel Services