Don Molden, like many of us, faced a financial hurdle when an unexpected bill arrived. Living paycheck to paycheck, he felt lost about how to manage the cost. “I didn’t know where to turn,” Molden admits.

Luckily, a coworker introduced him to the Community Loan Center (CLC) of Austin. Through this program, Molden secured a loan of up to $1,000 with a low interest rate and a comfortable 11-month repayment plan. The convenient part? Payments are automatically deducted from his paycheck.

Molden found the application process refreshingly simple and straightforward. After entering his information and submitting the online application, it took just 3-5 days for confirmation and loan approval.

His message to others facing financial challenges? If your employer participates, don’t hesitate to apply. “People might be skeptical about the program or worried about getting rejected,” Molden says, “but credit checks aren’t a factor. Don’t be afraid to seek help if you need it.”

With bi-weekly paychecks, Molden’s payments amounted to less than $43 per pay period - a manageable sum. He’s already used the CLC loan twice and sees it as a reliable option for future financial needs.

About the CLC:
The Community Loan Centers of Austin and Dallas recruit employers to offer an innovative, small-dollar loan program to their employees. The CLC program is offered at no cost to participating employers in their service territory. When an employee at a participating employer needs a loan, they can apply by clicking on the “Apply Now” button on the CLC of Austin or the CLC of Dallas website.

An eligible employee can apply for a CLC loan online anytime. The CLC loan approval process is quick and easy since the entire loan application process is automated, and credit underwriting is not required. After the employer verifies the employment of the employee/borrower, the employee signs the loan documents online. CLC loan proceeds are then transferred directly into the borrower’s bank account. CLC loan repayment plans begin on the employee’s next payday through payroll deduction. The CLC earns the interest from the repayment of the loans.

Community Loan Center loans feature:

• No Collateral
• Affordable Repayment Options
• No Pre-Payment Penalties
• Quick Approval
• Streamlined Underwriting

Contact the CLC to learn more about this new program!