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FREQUENTLY ASKED QUESTIONS
How are loans from the Fountain Fund used?The Fountain Fund provides low-interest loans to formerly incarcerated people who identify areas where a loan would help to provide the elevation they need. Examples of loan fund uses include: Repay court-imposed fees, costs, or other obligations, Purchase specialized equipment necessary for particular jobs, Start small businesses, Purchase an automobile, First month’s rent and deposit to secure stable housing
How do I know if I'm eligible?To be considered for a loan, applicants must show the following: A record of past incarceration, Ability to pay back the loan, and A potential elevation in their personal circumstances as a result of the loan. The Fountain Fund does not discriminate based on type of conviction or length of incarceration.
How much can I borrow?The Fund’s loans have ranged from as little as $250 to as much as $15,000. Loan amounts are determined on a case-by-case basis with the goal of setting up our Client Partners for success. We typically offer our loans for a 3-year term at a low 5.0% interest rate. We have an incentive that provides a 3.0% interested rate for Automatic Clearing House (ACH) participation, which automatically withdraws funds from a checking account.
Can you help me consolidate debt?No, the Fountain Fund does not provide assistance with debt consolidation.
How can I get started with loan application process?Please complete our online form to make sure you’re eligible. Once your information has been reviewed, a staff member will be in touch to start the process.
How can I or my company support this effort financially?You can make an individual or recurring donation or contact us if your company or organization would like to participate on a larger scale.
Don’t see your question listed below? Contact us today!
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