Most frequent questions and answers

Frequently Asked Questions

NAAC is a US Department of Treasury-certified Community Development Financial Institution (CDFI) mission-driven to provide access to basic financial services, affordable credit, and investment capital to low-income borrowers who have historically been left out of traditional banking services.

Proof of income, California or Nevada state-approved government ID, certificate of completion of our financial literacy program, a bank account*, and a credit score of 580 and above.

*A bank account is not required to start the loan application but is required for approval of the loan. If you do not have a bank account, our loan specialists will be happy to assist you in opening one in order to proceed with the application.

The loan review will take 1-2 business days if all requirements are met. Sometimes a loan may take longer to review based on the loan applicant’s identity, credit, and quality of submitted documents.

As long as you have a source of income and do not have any active bankruptcies or liens, you may still qualify to be approved for a loan. You can also access our free financial literacy course for faster loan approval. Get started here.

You can borrow up to $2,500, payable in 12 months at 20% interest.

We require all loan applicants to have a bank account–our loan specialists can help you open one.

Going through the loan application process is an exercise in becoming a more responsible borrower. Paying your loan on time and in full opens more credit opportunities not only from NAAC but from other financial agencies.

We go beyond providing low-interest loans. We’ll help you make smarter financial decisions through financial literacy training and improve your credit score.

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