Emergency Loans
Last updated
August 31, 2009 2:00:50 PM PDT
The Employee Emergency Loan Fund provides loans to employees with an immediate need for funds due to unanticipated expenditures or emergencies.
Eligibility
Career employees (staff or faculty) who have completed their probationary period and received an overall standing of "Solid" or better may apply.
Maximum loan amount: $1,000
Time frame
From the time a loan package is submitted, it takes 4-5 business days to receive the emergency loan.
Loan repayment
The loan is repaid through monthly/ semi-monthly payroll deductions over the course of one year. Should the employee leave before the loan is repaid, the balance on the loan will be due upon separation from the University and will be deducted from the final paycheck.
Apply
- Obtain loan information and forms in one of these ways:
- A completed loan package includes:
- Completed and signed Employee Emergency Loan Application form
- Signed copy of the Employee Emergency Loan Policies acknowledgment
- Copy of written denial of loan application from bank or credit union
- Written statement justifying the need for a loan (e.g., car repair estimate if the loan is for car repairs)
- If approved, the employee must come to Student Business Services (map) to sign a promissory note.
- Original copies of the bank denial letter and loan justification documents must be presented at time of loan approval.
- Return the completed loan package to Student Business Services using one of the following methods:
- In person at the Student Services Center, Third Floor South (map)
- By mail to Mail Code 0050
- By fax to (858) 822-2713
- Student Business Services will verify:
- Completed loan package
- Career status and good status with supervisor
For more information, contact
Julie Rice, (858) 534-4910.
