green-chameleon-s9CC2SKySJM-unsplash.jpg

How to Apply

Start by submitting our easy one-page preliminary application which can be filled out online here. Alternatively you may download an application, print and mail your application to Loan Committee, The Branford Microfund, Inc., PO Box 884, Branford, CT 06405. Upon receipt of your application, a representative from the Branford Microfund will contact you within 3 days to let you know if you are eligible to apply for a loan and to review the next steps in our loan process.

 

If you are eligible, you will need to complete a more detailed 3-page application. You will receive this application either by email or mail, depending on your preference and a Branford Microfund representative will be available to review the application with you, answer any questions you may have, and help you complete the application if necessary. Our Loan Committee will meet to review and approve your completed application within 3 days.

Loans are available for one time expenses.

Loans are customized to meet the unique needs of each applicant and may be used to cover a wide range of emergencies such as unexpected medical procedures, car repairs, license or registration fees, certain training/tuition fees, replacement of basic home appliances, and unexpected damages to households. 

Process

If your application is approved, a check will be issued and you will be required to sign a repayment agreement. A monthly repayment schedule will be included in the agreement. Loans must be repaid within 30 months.

Loan repayment will be paid by automatic deduction or transfer made every month from the recipient’s bank account and/or paycheck.​

A Branford Microfund representative will mentor you through our process. If you encounter unexpected problems with repayment, contact your partner or mentor and a revised payment agreement may be arranged.

 

To apply for a loan, you will need to fill out our simple one page pre-application form online or in hard copy form to confirm your eligibility. Upon receipt of your preliminary application, a representative from BMF will contact you within 3 days to let you know if you are eligible for a loan and to review the next steps in our loan process. If you are eligible, you will need to complete a more detailed 3-page application. You will receive this application either by email or mail depending on your preference, and a BMF representative will be available to review the application with you, answer any questions you have, and help you complete the application if necessary. Our Loan Committee will meet to review and approve your completed application within 3 days.