Ada Developers Academy Loans

Loans to assist with living expenses while in Ada

***Craft3 Financing will NOT be available for ADA Cohort 15 students.***

Contact Ada Developers Academy for more information about financing options.

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.

Funding, which is provided by Ada, is limited and may not be sufficient to fund all loans for every person in the Cohort. To address this in an equitable way, Craft3 will make reasonable efforts to review loan applications in the order in which they are received. Eligible applications that are not processed before the available funds have been committed, will be added to a wait list. If Ada is able to raise additional funds for this loan program, pending applications will be evaluated based on their order in the wait list, and the amount of the additional funds. Questions should be directed to the Ada program team at

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.