Immigration Loan

For PDF document that can be shared, see Fast Facts - Immigration Loan

What are CEO Immigration Loans?

CEO Immigration Loans offer clients of IRC’s Immigration Services access to flexible financing that can help pay for USCIS fees and/or other expenses related to their immigration matter.

Who can apply?

CEO’s loans are designed to help individuals engaged with IRC’s related economic development programs. As with all CEO loans, applicants must complete training on credit. CEO also requests applicants engage in a 1:1 “Financial Fitness” check-in with a Financial Coach prior to or during the application process.

Applications begin with a referral from IRC Immigration & Legal Services staff and may only be submitted by clients in support of the legal matter active with IRC at that time. The matter can either be an immigration case for which the IRC is representing the client or an asylum matter for which the IRC has provided legal consultation and direct referral to an external asylum attorney.

It is important to note that being eligible to apply for a loan is very different than being approved for a loan. Please review the document titled How CEO Makes Loan Decisions for important information on getting approved for a CEO loan.

How much will it cost?

The monthly payment amount will depend on the total loan amount and the number of months to repay. Generally, the longer the repayment on a loan, the lower the monthly payments but the higher the total interest paid will be. As with all CEO loans, rates are fixed and will never increase after you sign your contract.

Other things to consider

• You may request funding to pay for both USCIS fees as well as other expenses related to your IRC Immigration matter, including DNA testing, certified translations, transcripts, etc. Loan funds cannot be used to pay for fees charged directly by IRC, inclusive of IRC’s fee for legal services, interpretation, passport photos, etc.
• After consular processing is approved, you may request loan funds to pay for travel/airfare. If you want to use loan funds to help pay for both application-related expenses AND travel, it makes sense to apply for two smaller loans at separate times. This way, you won’t incur any interest expense on the portion of your loan used to pay for travel while you wait for consular approval.
• There are alternative funding sources like Miles for Migrants that could provide free airfare that should be fully explored before considering any loans.

How to apply

1. Visit your local IRC office to complete a CEO Loan Application and meet with a Financial Coach. Here’s a list of the items you’ll need for the loan request:
   • Personal email address
   • Valid government-issued photo ID
   • A checking bank account based in the U.S. with routing and account number
   • 2 most recent monthly bank statements (personal and business)
   • 2 most recent pay stubs or other verifiable income statements
   • Referral from IRC immigration staff
2. Your financial coach can help you complete your application (loan decisions are usually made within three weeks of application).
3. If approved, your contract will be ready for signature within three (3) business days of approval notification. You can review and electronically sign your loan contract.
4. Funds are deposited directly into your bank account via electronic ACH and are available within one to three business days after signing the loan contract, depending on bank processing times.

Your local contact will be able to answer any additional questions you might have.

For California Residents

• CA FINANCE LENDER’S LICENSE #60DBO54868
• LOANS MADE OR ARRANGED PURSUANT TO CALIFORNIA FINANCE LAW LICENSE
• FOR INFORMATION CONTACT THE DEPARTMENT OF BUSINESS OVERSIGHT, STATE OF CALIFORNIA