Welcome To Your Payday Loan Alternative

Stop paying 500% on two-week payday loans. America’s Family & AF Solutions have a payday loan alternative that allows you to borrow up to $600 at 19.9% interest rate. Plus you can repay that loan over six months and the interest is less than $30 bucks. Compare that to one $500 payday loan with $75 in interest charges and fees that you have to repay in two weeks.

America’s Family is a local charity founded in 2002 by Steve Bigari, CEO of Mr. Biggs. America’s Family is a tax-exempt, 501(c)(3) nonprofit organization dedicated to empowering you with the tools, resources, and knowledge to gain financial self-sufficiency. Our lending company, AF Solutions, provides low-cost payday loan alternatives to qualified families.

Some of the ways you can use a loan from us include:

  1. Alternative to a payday loan
  2. Consolidation of payday loans or credit cards
  3. Unexpected expenses such as a car repair or medical bill
  4. Purchasing a car

If you are interested in applying for an America’s Family payday loan alternative, click the links below. Thank you, and we look forward to serving you.

PLEASE READ THE APPLICATION CAREFULLY AND COMPLETE IT ENTIRELY. ALL INCOMPLETE APPLICATIONS WILL BE DENIED.

DOWNLOAD LOAN APPLICATION (.pdf)

In order for your loan application to be processed, you will be required to submit the following documents/items (APPLICATIONS WITHOUT THESE ITEMS WILL BE CONSIDERED INCOMPLETE AND WILL BE DENIED):

  • Completed AF Solutions Loan Application
  • Your government-issued photo identification (driver’s license, passport, Green Card, etc.)
  • Two most recent months of pay stubs or consistent proof of ANY regular income that you claim you receive (benefit award letters, copies of invoices for small business, child support documentation, etc.) If you do not provide suitable proof of income, your application may be considered incomplete

  • Any bills/statements/contracts that you would like paid on your behalf such as payday loan contracts, utility bill, rent bill, auto repair estimate, etc.

Applications can be submitted in person at our office (or mailed) to America’s Family, 5825 Mark Dabling Blvd, Colorado Springs, CO 80919. (If coming in person, go to the south side of Mr. Biggs–opposite from the front entrance–and proceed through the door marked “STELLAR” to find our offices). You also may submit your application by fax at 719 213 2358, by e-mail to Natalie Igou at nigou@amfol.com.

NOTE: Depending on your requested loan amount and/or your situation, you may be asked to provide the following documents at your 15-minute intake meeting or after submitting your application. It is recommended that you have these items readily available to expedite the decision for your request.

  • Two most recent months of bank statements for primary checking account. (Optional: statements for any accounts of savings, 401(k), bonds, etc., are helpful in processing your application).
  • Proof of employment AND good standing (signed letter “To Whom It May Concern” from supervisor on company letterhead dated within a week of loan application date)
  • Most recent year of Federal Tax Returns with applicable W-2’s (Form 1040)
  • Bankruptcy decrees (if applicable and pertains to any credit report or account disputes)
  • Divorce decrees (if applicable and pertains to any credit report or account disputes)
  • Proof of debt payments or accounts paid in full that may show as outstanding on your credit report (e.g., statement from creditor showing $0 balance, proof of payments to creditor, etc.)

You MAY also be asked to attend a 15-minute intake meeting (please call for an appointment) in order for us to assess your situation.

OTHER IMPORTANT INFORMATION

Q: Will you look at my credit report? What if it’s bad?
A: Yes, we will request an inquiry of your credit report from the credit bureau in order to see what your previous behavior with credit has been. However, this is one of several determining factors in the decision of your application.

Q: What is the interest rate on your loans?
A: Our loan program is designed for individuals who do not qualify for a bank or credit union loan, and who would typically use a payday loan or high interest credit card cash advance as a temporary resolution. By law, credit unions cannot provide a loan at more than 18% Annual Percentage Rate (APR). An AF Solutions loan is set at an APR just slightly higher than that, at 19.9%. When compared to a 520% APR offered by payday lenders, this is a substantial savings. An AF Solutions loan is usually 1/10th the cost of a payday loan.

Q: How long do I have to pay the loan back?
A: Most loan repayment terms are 6-12 months, depending on the loan amount. DURING THAT TIME, MANDATORY MONTHLY FINANCIAL COACHING ATTENDANCE IS REQUIRED.

Q: How much are the payments?
A: Your payment amount will be dependant on the loan amount, your repayment term, and your payroll frequency. For example, a person who qualifies for a $1,000 loan with a 12-month repayment term, and is paid bi-weekly, will have loan payments of $42.56 every two weeks.

Q: How does an applicant qualify for the loan?
A: The loan committee will be reviewing the following factors (among others) pertaining to the applicant(s) in determining qualification for a loan

  • Your ability to repay the loan (income vs. expenses)
  • Length of time on your job (if applicable)
  • Length of time at your residence
  • Previous payment history on credit
  • Attitude
  • Interest/willingness to learn and change your financial behaviors

Q: Is a co-signer helpful?
A: Absolutely; a co-signer (or guarantor) on your loan who has equal to or better credit than yours will always be beneficial for you.

Q: What is America’s Family?
A: America’s Family is a nonprofit organization provides free financial counseling and access to other free community services for seriously-minded, hardworking people.

Q: How does being a member of America’s Family help me?
A: As a member of America’s Family, you will be eligible for monthly personalized financial coaching, assistance with budgeting, help in establishing a savings plan, and obtaining financial stability. Additionally, America’s Family can connect you with other local community resources that may be suitable for your situation. Once enrolled in our program, you are also eligible to apply for a loan with AF Solutions.

Q: How do I know if America’s Family is the right program for me?
A: The America’s Family program is perfect for you if you:

  • Are tired of always feeling like your finances are a burden
  • Want to learn how to keep more of what you earn
  • Desire, and are prepared, to change your financial lifestyle and behaviors, and will take the advice of a financial coach
  • Are open to, and comfortable with, truthfully discussing your detailed finances with a financial coach
  • Understand that, with dedication, you can help yourself and your family into a more secure and comfortable lifestyle
  • Are interested in personalized financial counseling, regardless of whether you qualify for a loan or not

Q: I have gathered all of the necessary documents/items and am ready to make a change in my life. How do I make an appointment to submit my application?
A: Call us at 719.955.7138 or email nigou@amfol.com, and we would be happy to set up a time for you to come in.