The CLC local lender recruits employers in their community to offer the CLC loan program to their employees. The CLC program is offered at no cost to participating employers in their service territory. When an employee at a participating employer needs a loan, they go to the CLC website to apply.

An eligible employee can apply for a CLC loan online anytime. The CLC loan approval process is quick and easy since the entire loan application process is automated and credit underwriting is not required. After the employer verifies the employment of the employee/borrower, the employee signs the CLC loan documents online. CLC loan proceeds (see diagram above) are transferred directly into the borrower’s bank account. CLC loan repayments begin on the employee’s next payday through payroll deduction. The CLC lender earns the interest from the repayment of the CLC loans.  

• quick approval
• streamlined underwriting
• no credit reports
• no collateral
• affordable repayment options
• no pre-payment penalties

CLC borrowers may access their accounts anytime through the CLC website. This innovative website eliminates the need for storefronts and high overhead costs resulting in much lower loan costs. The CLC program provides free, no-obligation financial counseling to all CLC borrowers. The CLC financial counselors help borrowers become more financially empowered to manage their personal finances and to use credit responsibly.

The CLC model is customer-centric and engages community leaders who understand the needs of consumer loan borrowers. The overarching goal is to help CLC borrowers meet current and ongoing financial obligations and achieve a sense of security in their financial future.