New American Community Lending (NACL) is a privately funded microlending institution from Lutheran Immigration and Refugee Service that financially empowers refugees, immigrants, and asylum seekers.
Through the provision of individual, consumer, and microenterprise loans that would usually be very difficult for refugees and immigrants to obtain, NACL will promote economic and personal security, increase individual quality of life, enable greater contribution to local communities, and allow full participation in the American Dream.
The work of NACL will strengthen vulnerable immigrant communities and help create and sustain small businesses, benefitting the broader community by providing valuable goods and services, job creation, and growth of local economies.
WHAT WE OFFER
New American Community Lending offers affordable loan rates, approvals for applicants with challenged credit or no credit, free financial coaching, and interest-bearing and Riba-free loans.
Personal Loans
- Interest Rates from 5%-11%
- Riba-Free fees from 5%-11% of loan amount
- Loan Amounts – $500 – $5,000
- Free financial coaching plan
Micro-business Loans
- Interest rates from 5%-11%
- Riba-Free fees from 5%-11% of loan amount
- Loan Amounts – $500 – $5,000
- Free financial coaching plan
- Free business coaching plan
- Available for established businesses and starting businesses
To learn more and apply for a loan, email NACL@lirs.org.