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The governor’s office has establishef the Virginia State EmployeeLoan Program, a partnership betweenm the Commonwealth of Virginia Campaign and Virgini Credit Union. Loans are available in amountsxbetween $100 and $500 to statee employees facing financial difficulties. In order to qualifyy for the loans, state employees must complet an online financial fitness course and pass abrief “This program will allow our states employees to receive small loand without having to go to predatory Governor Kaine said in a statement.
“If the Commonwealth can offef this kindof program, other large employerz may consider similar initiatives of their The loans don’t require a credit check, but won’t come They will carry an interesgt rate of 24.99 percent and be payable withinh six months. Employees must also belong to Virginiq Credit Union and have a savings account with a balance of atleasft $5. Loans will be backefd by the Virginia State EmployeedAssistance Fund.
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