St. Vincent de Paul — Madison provides small dollar, low-interest loans to help with one-time emergency expenses. Microloans are offered between $400 and $2,500 at low interest rates. They are offered for up to two years through local banks with individualized repayment plans. Financial education and other support is also offered to borrowers. Microloans are an alternative to payday or auto title loans. They are meant to prevent the use of payday or auto title loans and/or payoff such loans which cause immediate and long term harm to borrowers.
✅ Car repair
✅ Paying off a high interest payday or auto title loan
✅ Medical expense not covered by other means
✅ One-time security deposit
❌ Monthly bills like car payments, utilities or credit card payments
❌ Rent or mortgage payments
Before applying for a microloan, please make sure that you meet the applicant requirements above. If you qualify, follow this application process: