Ada Developers Academy Loans

Loans to assist with living expenses while in Ada

Craft3 and Ada Developers Academy have teamed up to offer an affordable loan for participants. Anyone enrolled in the program becomes eligible to apply for an affordable loan of up to $14,700 for up-front funds for the transition to Ada plus living expense during the instruction session.

This loan is very accessible. Loan repayment begins after instruction and internship terms are complete and features inclusive approval criteria - even to those with less than perfect credit scores.

Loan Features and Benefits

• Loans up to $14,700
• Interest rate of 4.50% (4.93% APR)
• Five-year term
• No payments due until program and internship are completed (12 months)
• Loan accessible to most applicants

Sample Loan Terms

Interest Rate	4.50% (4.93% APR)
Repayment Terms*	No monthly payments required during 12-month ADA Program term (finance charges accrue from date of loan funding), followed by 4-year repayment term.
Example	$14,700 + $200 loan fee = $14,900 Loan Amount. No monthly payments required for 12 months, followed by 48 monthly payments of $355 each.

*Finance charges accrue during deferred payment period. Repayment term begins immediately if borrower withdraws from ADA. Loan availability, terms and conditions current as of 6/25/18 and are subject to change. Loan example includes lender loan fee of $200. Not all applicants will qualify.

The application window for ADA Cohort 12 financing has closed

Please contact ADA if you have questions about admission for Cohort 12 or future cohorts. For more information on Ada’s fundraising effort for Cohorts 12 and 13 or to invest, please go to https://www.adadevelopersacademy.org/donate.