New Economy Project launched the NYC DREAMer Loan Fund in 2012 to provide financial support to Deferred Action for Childhood Arrivals (DACA) applicants in NYC.
By making no-interest loans to cover DACA application and renewal fees, the loan fund ensures that financial need does not prevent eligible immigrant New Yorkers from receiving the benefits of DACA, including work permits and protection against deportation.
How it works
New Economy Project works with dozens of nonprofit organizations that provide DACA screening and advice. These organizations can advise individuals about about potential benefits and risks associated with applying for or renewing DACA. They can also refer individuals to our zero-interest loan fund.
DREAMer Loan features include:
- Loans to cover DACA fees
- 0% interest rate
- Low monthly payments spread over one year
- $20-$25 loan processing fee
New Economy Project has partnered with Lower East Side People’s Federal Credit Union and Brooklyn Cooperative Federal Credit Union to make DREAMer Loans. Each loan recipient receives a savings account with a $25 start-up deposit provided by New Economy Project. The credit unions provide a range of other services, including free tax preparation, one-on-one financial counseling, checking accounts, small business and home loans, and more, to support DACA recipients and their family members over the long-term.
To learn more, please email us or call 212-680-5100.