Having Trouble Collecting Rent? Tell Your Tenants About New, FREE Loan Program

Having Trouble Collecting Rent? Tell Your Tenants About New, FREE Loan Program

Better Angels Short-Term Eviction Prevention (STEP) Fund Program Can Help!

Los Angeles County tenants who have missed one or more rent payments and who are at risk of eviction within the next 30 days, the Better Angels’ STEP Fund Program can help get them back on their feet with a FREE, short-term, interest free micro-loan. There are no gimmicks, and quick processing turnaround time is always guaranteed.

Addressing Critical Needs of Housing Affordability in Los Angeles County

It is estimated that Los Angeles County has more than 750,000 households that are on the brink of eviction and potentially facing homelessness due to a minor financial crisis such as loss of work, medical issues or even major, unforeseen expense. Despite the imminent threat of losing their housing, only 5% of current available funding focuses on homeless prevention efforts. The Better Angels STEP Fund fills this gap by offering crucial support to individuals and families facing immediate eviction.

Better Angels’ STEP Fund offers interest-free loans to low-income residents of Los Angeles County who are at risk of eviction within the next 30 days due to recent financial hardships and can demonstrate their ability to repay the loans. To be eligible, borrowers must meet the following criteria: (i) household income at or below 50% of the area median income (AMI), (ii) able to demonstrate experiencing recent financial hardship, (iii) at risk of being evicted from current housing, (iv) living in Los Angeles County, and (v) able to demonstrate ability to re-pay loan.

Applicants should apply via the online application located at https://www.thestepfund.org/, and will then be asked to undergo a brief verification call with a member of the STEP Fund team. Applications are generally processed within 7 days of receipt. Then, once approved, loan funds are disbursed directly to the tenant’s landlord, property manager, or utility company. The STEP Fund offers flexible repayment terms, with options for in-person or electronic payments, tailored to help borrows remain in their home.

Since its inception, the STEP Fund has helped approximately 440 families in Los Angeles County stay housed and has distributed over $980,000 in loans. Their average loan size of approximately just $2,000 has helped 98% of all borrowers remain housed and avoid eviction! By preventing homelessness proactively, the fund not only preserves homes but also community ties, stability, and dignity. For more information, email the STEP Fund at stepfund@betterangels.la or visit their website at www.thestepfund.org.