🌊 Ripples Pay It Forward Loan Application & Agreement 🌊
(This document serves as both your loan application and loan agreement if approved)

💙 About the Pay It Forward Loan
Ripples & Renewal Foundation, INC (DBA: Ripples) offers micro, low-interest loans to help individuals access sober living housing and recovery support, building a foundation of self-reliance.

When you repay your loan, those funds are reinvested to help someone else on their recovery journey — creating ripples of hope and renewal in the community. 🌊

📝 Eligibility & Commitment
Most applicants are in residential treatment and working with a case manager.
Applications should be completed during the final 3 weeks of residential treatment.
Approval is not guaranteed — factors considered:

🌊 Availability of loan funds
🤝 Strength of referral (treatment center, sponsor, recovery mentor)
💪 Willingness to actively engage in recovery
⚡ Work ethic, consistency, and communication
📊 Risk of repayment default (employment, financial habits, support system)
💙 Commitment to paying it forward
🛡️ Co-signer strength (optional, but improves approval odds)

📜 Loan Terms
Maximum Loan Amount: $1,000
Interest Rate: Flat 4% APR
Repayment Term: Up to 36 months
Deferral: 60-day payment deferment from move-in date

If early discharge occurs, deferment ends immediately and payments begin on the next 1st of the month
Monthly Payment: $30 (on $1,000 loan over 36 months)
Due Date: 1st of each month
Late Fees: $25 after the 5th of the month
Credit Reporting: Consecutive missed payments may result in negative credit reporting
No early repayment penalties
Loan is non-transferable
Loan must be used for sober living rent and deposit through the I Am Sober Living Program
No refunds or credits for unused rent or deposit

🏠 Sober Living Program Connection
Deposit: $400 (non-refundable; cleaning & maintenance)
Reduced Rent: $300/month for all months actively enrolled in PHP/IOP
Extensions: Case-by-case, typically 1 month at a time

$300/month with PHP/IOP
$500/month without PHP/IOP
❌ Non-payment of rent may result in discharge from housing

💳 Payment Instructions
Rent: Invoiced through I Am Recovery billing department (Jen Franco — jen@iamrtc.com)
Loan Payments: Managed through Ripples & Renewal (hello@ripplerenew.org) via Stripe
📬 Keep your contact info updated and check your spam folder for invoices

Program Information 

Employment & Income 

Co-Signer Information 
 

Loan Terms Summary 

🔐 Privacy & Communication Notice
By submitting this form, you consent to receive communication via text, phone call, and email from Ripples & Renewal Foundation, INC (DBA: Ripples) regarding your loan and related services.

We may also invite you to participate in free and sponsored workshops supporting your self-reliance and recovery journey, including:

Financial well-being and budgeting
GED or education support
Resume building and job readiness
Job placement services
Recovery events (in person or online)
Emotional wellness tools and community connections
Your information will never be sold. It will only be used to serve you, fulfill program requirements, or comply with the law.

🧾 Credit Reporting & Accountability
Ripple Renew Foundation may report loan activity to credit bureaus. This helps:

Hold borrowers accountable for timely repayment
Provide an opportunity to build or repair credit with low monthly payments and consistent responsibility
Borrowers who successfully repay on time may see positive credit history growth, helping open doors to future housing, employment, and financial freedom.

 Acknowlegemnets & certifications

 I certify that all information provided is true and complete to the best of my knowledge. I authorize Ripples & Renewal Foundation, INC (DBA: Ripples) to verify my information, contact my co-signers, and communicate with my treatment provider or recovery contacts as needed to process this loan.

I have read and agree to the loan terms above. I understand that failure to repay the loan may result in co-signer responsibility and credit reporting. I understand that successful repayment may help build my credit and that repayments help fund future borrowers.

⏳ Timeline & Approval Process
Loan applications are typically reviewed, and a decision is made within 72 hours of submission. However, processing times may vary based on the completeness of your application, availability of referrals, and current program capacity.

To help ensure a smooth and timely review, we encourage you to submit your application as far in advance as possible of your anticipated move-in or treatment start date.

The more prepared and responsive you are — and the stronger your support system — the more efficiently we can move forward together.

✍ Agreement
By signing below, I confirm that:

🌊 I have read and understood the loan terms and sober living program requirements.
💙 I agree to repay the loan according to the terms above if my application is approved.
💧 I understand that failure to make payments or communicate may result in discharge from housing and possible credit reporting.