FedAssist Furlough Loan
Our 90 years of experience supporting Federal Employees means we are ready to step in when you need it most.
Due to the partial Federal government shutdown, if you are a Federal civilian employee or a Federal contractor and will not be receiving your paycheck as a result, you may be qualified to obtain a FedChoice Furlough Loan.
FedAssist Furlough Loan+
Our 90 years of experience supporting Federal Employees means we are ready to step in when you need it most.
| You may receive the equivalent of one month's gross* pay as the maximum loan amount up to $15,000 plus 60 days until first payment in 6, 12, 24 or 36 month repayment terms. | |
| Term* | As Low As Rate^ |
|---|---|
| 6 Months | 3.25% APR |
| 12 Months | 4.25% APR |
| 24 Months | 5.25% APR |
| 36 Months | 6.25% APR |
| *Gross pay is your pay before any deductions are taken out. | |
In order to be eligible for this loan, the following criteria must be met:
- You are an employee or Federal contractor for the Federal Government who did not receive a paycheck as a result of the partial Federal Government shutdown. Most recent pay stub is required to prove employment if you do not have direct deposit with FedChoice.
- Copy of Furlough notice may be required.
+Proof of Furlough will need to be provided to qualify for the reduced rates. No further discounts may be applied to the Furlough Loan.
* Deviation from offered terms may result in a delay in processing your loan application.
^All credit is subject to credit approval. FedChoice underwriting requirements apply. APR = Annual Percentage Rate. APR is based on evaluation of applicant’s credit at time of application. Your actual APR may vary.