FedAssist Furlough Loan
Our 90 years of experience supporting Federal Employees means we are ready to step in when you need it most.
In the event of a Federal government furlough, 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. This loan will be activated upon the official announcement of a full or partial United States Federal Government furlough.
FedAssist Furlough Loan+
This loan comes with:
- You may receive the equivalent of one month's net pay as the maximum loan amount plus 60 days until first payment in 6, 12, 24 or 36 month repayment terms.
- Interest rates starting as low as 3.25% APR for 6 month term; 4.25% APR for 12 month term; 5.25% APR for 24 month term; 6.25% APR for 36 month term.^
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 be receive a paycheck as a result of the Federal Government shutdown. Most recent pay stub is required to prove employment.
- Copy of Furlough notice is 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.
^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.