Minimum of 3 references for loans up to $5000 and an additional reference for each additional thousand dollars borrowed. Each reference is a community member that is willing to vouch for your ability to repay your loan and will be responsible to pay $100 of your loan balance to PRIYA if you should default.
3) Review and Sign Contract
1) You will receive an email from HelloSign
2) Click to open your Promissory Note.
3) You will find two buttons at the top left of the page, 'ADD TEXT' & 'ADD SIGNATURE'
4) Click the 'ADD TEXT' button to fill in your information.
5) Click the 'ADD SIGNATURE' button to place signature at the bottom of the document.
6) Click the 'DONE' button at the top right corner of the page when you're ready to submit.
4) Repayment Options
We accept cash or checks or use your bank's automated online payment options.
We are flexible. Together we can agree on a loan term length, monthly amount, and monthly repayment date that will work for you.
Please send checks to:PRIYA PO Box 1904 Alachua, FL 32616
What is the interest rate on my loan?
The annual percentage rate is 7%.
Is the interest rate fixed or does it depend on my credit rating?
The rate is 7% regardless of credit history.
Are there fees associated with borrowing money?
Yes, there is an initial fee of 2% rolled into your loan amount. For example, if you were borrowing $1000, 2% would be $20.
Do I qualify for a loan?
Yes you do, if you're a hard-working, productive member of our ISKCON New Raman Reti community. If you fill out the application, provide the references needed, you're on your way!
How much money can I borrow?
Loans amounts are awarded based on repayment ability. Our loans vary from $500 up to $10,000. Each situation is unique. Contact us about your particular needs.
How much time do I have to repay the loan?
We want you to pay the loan off as quickly as possible to save you the most money. We are flexible and will work with you to find the best repayment options for you. Typically, loan term lengths do not exceed 36 months.
What paperwork will I need to gather to apply for the loan?
Other than the requirements in the application process, there is no other paperwork required.
How much will my monthly payment be?
We want to save you money. The faster you pay off your loan, the more you will save. We will work with you to create a monthly payment you are comfortable with.