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MINI LOAN Program
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What is a Mini Loan? A "mini loan" is an essential component, which prevents borrowers from falling into a cycle of debt. Through our Mini Loan Program, we aim to empower people so they can attain financial stability. Over the course of a year, these low interest loans can be paid back with a manageable monthly payment. The loans listed below may be suitable for you, depending on your circumstances.
To see if you qualify, contact your local St. Vincent de Paul conference. Your local conference will arrange to meet with you to discuss eligibility criteria and learn more about your financial goals.All referrals for the Mini Loan Program are provided through the local SVdP conferences.
Since April 5, 2014, when the program began, the Council along with our 42 Conferences, has converted 316 payday loans and issued 202 loans.*The Mini Loan Program is an improved version of the Predatory Loan Conversion Program. -
Conversion loans
If you are stuck in a cycle of payday or title loan debt, we may be able to help you get out. Our Mini Loan Program's Conversion Loan converts short-term, high-interest loans into a low-interest loan.
- 3-4% interest over 12 months with lower, manageable monthly payments
- Work with SsVdP and our reputable banking partners instead of payday lenders
- Receiving ongoing financial coaching and budget support throughout the process
- Amounts between $500 and $4,000
- Incentives for successful repayment of your loan!
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Emergency loans
Emergency loans assist neighbors facing unexpected vehicle repairs or needing initial apartment deposit assistance that you don’t have funds for.
- Available for vehicle repairs and new apartment security deposits only
- 3-4% interest over 12 months with low monthly payments
- Maximum loan amount of $2500
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Loan Requirements
- Must be able to provide documented source(s) of Income for a minimum of 4 months
- Income must be sufficient to cover monthly expenses PLUS the monthly loan payment
- Current form of Government issued photo ID (Driver's license or State ID with current address, Passport or US Military Card)
- Bank Account or qualifying Debit Card Account (for ACH withdrawals)
- Must be willing to complete monthly budget and complete a financial education program with a SSVdP representative
- For Emergency Loans, a written estimate of the expense from a third party service provider. All loan proceeds for emergency expenses, if approved, will be made payable directly to the service provider.
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For questions or to begin the prescreening process, please contact your local Society of St. Vincent de Paul conference. If you need the telephone number for your local conference, please email your physical address to miniloanprogram@ssvdp.org and we would be happy to provide you with the contact information.