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.
Loans are available in the amounts of $500, $1000, or $1500. Follow these steps to apply:
Click here to submit your 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.
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.)
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.
Loan repayment will not begin until September 1, 2020. However, you are provided options to pay earlier if desired.
$500 loans: five month repayment (Sep. 2020 - Jan. 2021) @ $100/mo.
$1000 loans: eight month repayment (Sep. 2020 - Apr. 2021 @ $125/mo.
$1500 loans: ten month repayment (Sep. 2020 - Jun. 2021) @ $150/mo.
If you are based in the New York City metropolitan area, we recommend you first look at the generous offerings from our friends at Hebrew Free Loan Society. For everyone else, Apply now! 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!