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The Zero-Interest Senior Small Dollar Loan Program (SSDL) | Benjamin Rose

11890 Fairhill Rd., Benjamin Rose, Cleveland, OH 44120

Residents age 55 and older who are facing a hardship and need a small dollar loan to prevent or resolve a financial or housing crisis (such as making a mortgage or rent payment, avoiding utility shut off, paying for medications, etc.). Income must be at or below 80% Area Median Income (AMI) for Cuyahoga County: Household of 1: $42,600; 2: $48,650; 3: $54,750; 4: $60,800; 5: $65,700; 6: $70,550; 7: $75,400; 8: $80,300. A financial assessment is required to determine loan eligibility. Additional qualifications may apply. Financial coaching is required to receive the loan.
M-F: 9:00am-5:00pm.
https://www.benrose.org
[email protected]

Phone to apply and for initial assessment M-F: 9:00am-5:00pm.

Loans will need to be repaid. There are no origination fees or interest charged.

Cuyahoga County, Ohio

Description

Provides small loans to older adults who may be struggling financially and provide an alternative to resorting to payday loans for relief. The longer-term goal is to conduct a financial assessment with these older adults, engage them in financial counseling/coaching and wraparound services that help improve financial capability (knowledge, skills and access to resources). The loans are from $300 to $1,000 and have zero interest or origination fees. The loan can be paid back in as little as one month or as long as 48 months with a maximum payment of $20.83 a month.

Data provided by

211 Cleveland

What's Here

Personal Loans

Providing organization

Benjamin Rose

Administrative site for agency that works to support caregivers and empower all people to age well through research, consumer responsive services and client advocacy. Provides a variety of services including social work, mental health case management, telephone-based care coaching, mental health day treatment, and service coordination.