Get government loans to help with paying debt and bills.
There are several federal and state government sponsored loan programs available that can help pay for bills. Many of them are run in partnership with local non-profit agencies. The financial assistance, which often comes in the form of an interest free loan, is for families and individuals of all income levels, credit scores, and ages. Find details on government loans that can help people pay bills.
The money will be approved for paying only certain bills. The government backed loans will also tend to pay for certain, emergency expenses such as a car repair, furnace, home improvements, or maybe in some cases rent or utility bills when a family is facing a crisis. There may also be other programs for certain needs, but the funds will have requirements around them.
Loans government loan programs
Local non-profit organizations can often serve as a resource for potential borrowers. Community Action Agencies often have information on government loans and some may even process applications to them. The money issued will tend to be focused on more employment, housing, or energy related needs. Examples of what may be provided by a community action agency include the following.
- Government loans may pay for home repairs. There may be funds to cover emergency expenses such as to pay for the repair of a heating or colling unit, including air conditioner or furnace. Another use of government money, including from HUD or the FHA, may be to make a home accessible for the disabled or elderly, and loans may pay for certain types of improvements.
- Community Action Agencies may also have information on state or even local county government loans. As there are often non-profits that offer funds for paying for rent to stop an eviction, transportation including cars if they are needed for work reasons, school or educational needs, and similar expenses.
Loan programs may also be run by social service offices. The local government centers often provide a host of benefits to low income residents of the town or county. It may be the case that a cash loan is issued while the applicant waits on other forms of financial assistance, such as TANF or SSI disability to start up.
- A local government office may be able to offer the following types of support. There may be cash loans for the disabled, as it can take months if not years for an application for disability to be approved. The funds will help them pay for everyday needs, ranging from medical costs to housing, food, and more.
- The elderly often also need support, and social services provides loan money for those needs. There may be a stretch of time in which they are waiting for a pension or social security benefit to start. Therefore the local government human service office may have information on loans to help seniors pay their bills while they wait.
While many of the government loans may be flexible in who is assisted, there may be instances in which a program does not exist or an application was denied. Maybe the applicant’s credit score was so poor, or their income did not support them borrowing money. When this occurs there are other loan programs to try as well.
A wide variety of lenders may be able to offer help to people with bad credit too. Some, such as community action agencies and charities, work with local government loan programs. Other lenders may work independent of the government, and they include credit unions, faith based groups and others. Find a listing of loans for lower income borrowers that may need a loan.
Loans from the federal government
The federal government offers several loan programs to help people with a wide variety of needs. Some are for low-income families and others are more widely issued. There are federal loans that help with home buying or repairs to a home. Or get assistance with educational needs small businesses, and federal loans that help with bills or rental costs when facing a financial hardships. Here’s a list of key programs:
FHA Loans (Federal Housing Administration) help low-to-moderate-income individuals buy a home. There are also federal FHA loans for people with a low credit score. with a lower down payment and credit score requirement. All the money provided is government-backed, but issued by private lenders ranging from banks to credit unions. Another key reason that this form of financing is being approved by banks is that after all, the risk is lower to the lenders as there are federal guarantees in place. Or find a list of government loans for home buying.
VA Loans (Veterans Affairs Loans) help veterans, active-duty military, and their eligible spouses to buy a home. This federal government loan does not require the veteran to come up with a down payment. Find details on VA home buying loans https://www.benefits.va.gov/homeloans/.
Social Security Administration, working with states and local non-profits, helps senior citizens get a short term loan while waiting on their benefits to start. The federal government benefit is a small dollar amount but it can help the disabled pay bills while in the process of applying and get details on loans for seniors social security.
Federal USDA Loans (United States Department of Agriculture) help people that live in rural areas either buy a home or repair an existing one. These are income based loans and are only for residents of USDA-designated rural areas, with all the money federal government backed. There are options such as the Single Family Housing Guaranteed Loan Program from the USDA, OneRD, Multi-Family Housing and others, with details here. https://www.usda.gov/farming-and-ranching/financial-resources-farmers-and-ranchers/grants-and-loans.
 HUD Title I Property Improvement Loan helps low to moderate income homeowners (or landlords) fix the property. The loan terms and length vary, but the interest rate will be lower than other private sources of funds.. It can be for a furnace, roof repairs, and other major improvements to the home. Even applicants with limited credit scores or history are being issued funds from the federal home loan improvement program. Learn more here https://www.hud.gov/program_offices/housing/sfh/title.
People impacted by a natural disaster can get federal government backed Disaster Loans (SBA). The funds help both business owners as well as private individuals. A wide variety of bills can be paid for including home or business repairs, emergency lodging, food and more. The money can also help pay for interest on personal, unsecured loans or debts, and read how the government is putting pressure on banks to offer additional credit card debt relief.
Home Energy Loans from the DOE (Department of Energy) helps with energy efficiency homes. The loans can pay for minor repairs/improvements around energy efficiency, such as insulation, energy efficient appliances, and more. Dial 202-586-5000 to learn about this or other DOE assistance programs.
Federal Student Loans come in many ways. They help with all types of education including trade school, college, apprenticeship expenses and more. The different verions of this federal product include Subsidized Loans: For undergraduates with financial need; government pays interest while in school as well as Unsubsidized Loans:, and on these interest accrues from disbursement. There are also federal government PLUS Loans for graduate students and parents of undergraduates
The SBA 7(a) Loan Program helps people start a business or expand an existing business. It is only for a small business and the federal government helps pay for working capital, inventory, equipment, salaries, and real estate if applicably (among other expenses). Call your local bank or lender, or visit sba.gov for more information. Or dial 1-800-827-5722.
SBA Microloans are much smaller dollar amounts than above. They can help a very small business, even a solo proprietorship. The governmnent works with private banks on the program and the loan can help pay a wide variety of bills.
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