+ Do you have to live in Los Angeles to get a loan?

Yes, you must live in LA County.

+ How much money can I get?

We offer loans from $500 to $2,500.

+ What does "free" mean?

We are a non-profit organization so "free" means that we do not charge interest on loans to make a profit. If you borrow $500, you repay $500.

+ What can the loans be used for?

We only give loans to keep people in their housing, so this includes:

• Security deposits
• Back rent
• Current rent
• Utilities
• Moving expenses
• Other housing-related costs

+ Are there requirements for receiving a loan?

Yes. Our mission is to assist the most vulnerable residents and help keep people in their homes. In order to be eligible, you must be considered low-income (below 50% adjusted median income for Los Angeles County), and be at risk of losing your housing in the next 30 days due to a recent financial hardship. We also evaluate your current and future income to ensure that a loan is the right solution for you and to verify your ability to make future loan payments.

We have a limited amount of funds available, so you are not guaranteed a loan if you meet these requirements. If you meet the requirements above, you will be entered into a lottery where you will have a chance of being selected for a loan.

+ Do you provide loans for undocumented people?

Our goal is to provide loans to people who are at risk of losing their housing, regardless of immigration status.

+ What is the process for getting a loan?

The process is designed to be easy and flexible to meet your needs. The first step is to apply here to find out if you are eligible. Once the application and supporting documentation are submitted, you will be asked to complete a 20 minute verification call over video with a friendly member of our team. Our team will be available via email or phone to answer any questions throughout the process. Completing the application process does not guarantee you will be given a loan. Because we have a limited number of loans we can give out, if you are eligible for a loan, you will be entered into a lottery that will determine who is selected for a loan. Our goal is to help you stay in your home.

+ How long does it take?

Loans are approved within a matter of days. The length of time it takes is mainly dependent on how quickly you submit your material.

+ What documents do I need?

We will work with you on documentation, but you will need to be able to provide the following documents to ensure you are eligible:

• Proof of identity. You can use any form of identification that has your name and photo on it, such as a state-issued ID, passport, driver's license, employment ID with a photo, or a utility bill in your name. It's not necessary for the ID to be government-issued. After you submit your application and it's verified, we'll need to do a video verification call to confirm your identity as part of our process.

• A document that proves you are at risk of being evicted, such as an eviction notice, a pay or quit notice, or any other communication from your landlord indicating that you might lose your housing.

• Documents that demonstrate your current income, which can include pay stubs, bank statements that show deposits, a job offer letter indicating your salary, or your most recent W2 (only if you're still at the same job).

• A copy of your lease or rental agreement, and/or a ledger that indicates any past due balance.

• If you're applying for a loan to cover moving expenses, please have your new lease agreement ready, including the cost of your move-in deposit.

+ When do I start to repay my loan?

Repayments start 60 days after the loan is approved.

+ How do I repay my loan?

You can repay your loan by cash, debit card, or through your bank account.

+ Outside Resources

If we are unable to offer you a loan, this is no fault of your own. We have limited funds and are unable to serve everyone. To be fair to all applicants, we select eligible applicants for a loan through a randomized lottery. Every applicant has the same chance of being chosen.

There are a number of other local resources where you may be able to receive help. We’ve included some options for you to consider below:

• LA City Housing - Los Angeles Housing Department
• The Housing Rights Center, outreach@housingrightscenter.org can help you with CA Rent Relief options
• HOPICS - Outreach program that provides a drop-in center with benefits assistance, flex funds, and rental assistance help and resources
• Step Up - Housing services, rental/deposit assistance, mental health services
• St. Margaret's Center - Emergency services including short-term hotel vouchers, shelter, rent assistance) and up to $100 for gas bills.
• FreeFrom - Cash assistance program, financial management, and lending circles
• Chrysalis - Employment agency for low-income individuals

If you have any questions about the process please contact us at stepfund@betterangels.la