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Vehicle Repair Loan

Vehicle Repair Loan is available for individuals in Baxter, Boone, Marion, Newton, Searcy, and Van Buren counties. The maximum loan amount is $500.00. This is a revolving loan program where repayments can then be loaned to another family in need of vehicle repairs. For this program applicants can make up to 200% of the federal poverty guidelines.

Each application is assessed individually. There is no automatic guarantee of a loan. The application found at the link below must be completed and all support documentation provided before you will be considered for a loan.

Please Note: There is a $25 administration and processing fee chargeable on all loans, payable when loan request is submitted to the Harrison office for final review. Your check will not be deposited unless your loan request is approved. If your loan request is denied, your $25 will be returned to you.

 

Income Eligibility Guidelines (200% of Federal Poverty Level)

Household Size

100% Federal Poverty Level

200% Federal Poverty Level
* Monthly Income Yearly Income * Monthly Income Yearly Income
1 $1,063 $12,760 $2,127 $25,520
2 $1,437 $17,240 $2,873 $34,480
3 $1,810 $21,720 $3,620 $43,440
4 $2,183 $26,200 $4,367 $52,400
5 $2,557 $30,680 $5,113 $61,360
6 $2,930 $35,160 $5,860 $70,320
7 $3,303 $39,640 $6,607 $79,280
8 $3,677 $44,120 $7,353 $88,240
For each additional person add $373 $4,480 $747 $8,960

Last Updated 1/28/2020