Guaranteed Loans

For applicants unable to meet SunTrust Bank’s standard loan requirements, but who can demonstrate to the NewWell Fund that they are creditworthy and able to repay the loan, may be considered for a loan guarantee up to $30,000 by the NewWell Fund.

Qualifying borrower must be a resident of Virginia with a disability or a family member of someone who has a self identified limitation to a major life function. A borrower must demonstrate creditworthiness and repayment abilities to the satisfaction of the loan committee.

For a loan guarantee, SunTrust Bank must first reject the borrower’s application. With approval from the borrower, the application will be taken to the loan committee at its monthly meeting for review and consideration of a loan guarantee.