FLAG

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  • Home
    • Replication
  • About
    • Who FLAG Is
    • What FLAG Does
    • How FLAG Works
    • FAQ
  • Programs
    • Micro-Loan Fund >
      • Micro-Loan Application
    • FLAG/SIP+
    • Co-ops
  • Entrepreneurs
  • Allies
    • Germantown United CDC
    • Weavers Way Co-op
    • Capital Consortium
    • Guarantors
    • Other -0-% Interest Programs
  • Donors
    • Contributors >
      • Members
    • Sponsors
    • Program Related Grants
  • Contact

Frequently Asked Questions

What is a "free" loan?
A "Free Loan" is money provided for a period of time without charges for interest or fees.
When must a flag loan be repaid?
Repayment terms are flexible and negotiable.  Repayment is tailored to the purpose(s) for the loan.  
Is the "Free Loan Association" a new Idea?
No.  Hebrew Free Loan Associations have been established and run successfully for many years within the Jewish community.
Essentially an alternative to charity, these free loans are provided to members of the community who are in temporary need.

FLAG adapts elements of the traditional Hebrew Free Loan business model to promote and support secular business activity.
What is the "catch?"
There is no "catch?"  FLAG is a nonprofit organization; FLAG does not earn income from its loan operations.  FLAG manages revolving funds - lending and re-lending money to businesses within the community.
Can anybody get a FLAG loan?
Yes.  Everybody is eligible regardless of age, gender, race, religion, sexual orientation, national origin, immigration status, or incarceration history.  Collateral, credit rating, business record, and other criteria used by commercial lenders are not used by FLAG.

FLAG loans are for business purposes.  The business may be either a startup or a going concern.  The business may be organized as a nonprofit, cooperative, or for-profit entity.  The business may be a sole proprietorship, partnership, corporation, limited liability company (LLC), or any other form of business organization.

FLAG loans are based on an approved business plan adopted by a dedicated Loan Committee.

​All FLAG loans are guaranteed by a Guarantor acceptable to FLAG.
How can FLAG stay in business, if its loans are free?
FLAG is primarily a volunteer organization.  Guarantors and mentors are not compensated for their participation in a Loan Committee.  FLAG relies upon the resources of its strategic allies and on in-kind donations.

FLAG also solicits grants and donations to support its operations, separate from its revolving fund(s).  FLAG may also engage in income producing activities associated with its mission.
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