St. Vincent de Paul — Madison offers small-dollar loans to help with debt consolidation. Loans range from $400 to $2,500 with low interest rates between 4-8% and flexible repayment plans over two years through local banks. Borrowers also receive financial education and support. Microloans are an alternative to payday or auto title loans. They are meant to prevent the use of and/or payoff these types of loans which cause immediate and long term harm to borrowers. If you have a loan with 37% or higher interest and want to consolidate or lower your payments, complete the interest form today!
Yes
✅ Paying off a high interest payday or auto title loan
✅ Consolidating multiple debts into one payment
No
❌ Monthly bills like car payments, utilities or credit card payments
❌ Rent, security deposit or mortgage payments
❌ Medical expenses
❌ Car repair, down payment or purchasing a vehicle
Before applying for a microloan, please make sure that you meet the applicant requirements above. If you qualify, follow this application process:
Special thanks to Lake Ridge Bank and Bank of Sun Prairie for their partnership in providing microloans! Through microloans, neighbors get immediate help and a support system to stabilize their finances.