We offer small dollar loans between $400-$1,000 as an alternative to costly auto-title loans at lower interest rates and longer periods with no credit history, collateral or prepayment penalties. Our simple loan application is online and takes an average of 15 minutes to complete. We recommend a review of the eligibility requirements and gathering of required documents below in advance as applications must be completed all at once and cannot be altered, revised or added to once submitted.

Our program offers loans to employees of participating employers in need of a short-term loan.
To be eligible for our program your employer must be a participant in the Community Loan Center Program.

Am I eligible for a loan? 
To qualify for a CLC loan, employees must be employed with a participating employer and: 
•    be at least 18 years old, 
•    be employed for a minimum of 90 days, and provide:
•    driver’s license/passport numbers, date of birth & social security number, 
•    full legal name, including first, middle, and last name and personal email-not company
       (this is how we notify you, so check your spam/junk folder),
•    home address, state, zip and phone numbers, and employer (from a drop-down menu)
•    hourly wage information (without shift differential or bonuses), 
•    position, supervisor name and department (not contacted for verification)
•    employee badge or ID number (if applicable), and provide the 
•    names, addresses, and phone numbers of four references
•    bank account information(full account & routing numbers),
•    names, addresses, and phone numbers of four references

Pending employment verification (24-48 hours), and signature on your loan documents, (done electronically from our website) your loan will be deposited into your checking account in 2 business days.

How much will my loan payments be?

A typical $1,000 loan with a bi-weekly payroll schedule will be repaid at $42.93 each payroll or $85.86 per month. The total amount of a $1,000 loan repayment including fees ($20) and interest will cost $1,116.15 paid over 12 months. Payroll deductions are convenient so you don't have to keep track of another monthly bill. If you choose to pay-off your loan sooner, there are no prepayment penalties. 

All loan repayments are reported monthly to the major credit bureaus, allowing employees to build credit or improve their existing credit score.

Only one loan with a maximum of $1,000 can be taken out at a time and we do not allow loans to rollover to keep the balance from ballooning. Repayment amounts are kept to 5% or less of the employee’s monthly pay. Our interest rate is 18% and with a biweekly payroll cycle, the effective rate (what a borrower actually pays) is 9.6%. 

The CLC (Community Loan Center of Arizona) is the lender and we do not sell loans to collection agencies. 

This employer-based model meets short-term lending needs without the burdensome fees, interest, and risk of auto title loans.

What happens if I leave my employer while I still have an outstanding loan?

If you leave your employer before your CLC loan is fully paid off by payroll deductions, your loan repayments will revert to deductions from your checking account on the same schedule as your previous payroll until your loan is paid in full. You can alter the schedule by calling us. Borrowers are solely responsible for their CLC loan--your employer is never financially responsible for your loan. 

How do I apply for a loan or learn more?

If you meet the above qualifications and want to learn more or apply, click "Apply Now" or click on the tab at the top of our home page to apply for a loan today!
 
Whether you are an employee at a non-participating employer, an employer looking to be a part of the program, have a question about the program or are just looking for more information, contact Cheryl Blume at Cheryl@azclc.org or call her directly at 602-695-5116.