What is A Heavenly Loan Foundation?
It is a Foundation committed to the philanthropic goal of loaning money without charging interest.

Is A Heavenly Loan operated by a Board of Directors?
Yes. A Board of Directors oversees the Foundation. There is a staff that handles all operations.

Why is A Heavenly Loan associated with eRaffle.com?
eRaffle.com invited A Heavenly Loan Foundation to be the primary recipient of its fundraising efforts. After reviewing the eRaffle website and its business objectives, the Foundation was pleased to be associated with a business with such a global reach and dynamic business focus.
Since A Heavenly Loan seeks to help all people with loan concerns, the exposure of its mission on a website like eRaffle.com is ideal.

Who may apply for a loan?
Any person or charity with a clear need may apply for a loan. Applications will be closely scrutinized and subjected to a thorough approval process.

Must an applicant meet certain standards or guidelines before an application may be submitted?
No. Presently there are no standards or guidelines that must be met before an application may be submitted. A person's circumstances and needs in Africa will be much different than the circumstances for an applicant in America.

Does A Heavenly Loan accept applications and approve loans based upon the reason a loan is requested?
No. However, A Heavenly Loan may decide not to approve an application simply because of the intention for the use of the funds. The Foundation will assess why the funds are requested and consider that reason as it reviews the application and explanation. 

Are missionaries in foreign and third world countries able to recommend loan recipients?
Yes. A Heavenly Loan encourages missionaries to recommend those who have a clear need for a no interest loan. Missionaries are able to dignify the credibility of those who would not otherwise be able to apply or validate their circumstances.
Given cultural differences, language barriers, the nature of governments, limited access to technology, and many other constraints, missionaries, who are well established in less developed countries, are encouraged to serve as a bridge for applicants to A Heavenly Loan.

What is the approval process for receiving A Heavenly Loan?
An applicant must submit an application. Once the application is received, it will go through a preliminary review. If the application has merit, it will undergo a secondary review that is much more comprehensive. A secondary review will actively involve the applicant.
If an application is recommended for “Foundation Funding,” the application will be forwarded to the Board of Directors. The Board of Directors will consider the complete application, make any additional requests and consider approval or defer funding until conditions are satisfied.

Once a loan is approved, how are funds received?
While each loan will vary, funds will be sent to a third party on behalf of the loan recipient. For example, if funds are needed for a medical operation, the funds will be sent to the doctor or medical facility providing the service.

Once a loan is approved, when will funds be available?
Funds will be made available when needed, but generally after the performance of a service or at the completion of the purchase.
For example, funds will be sent to the doctor or medical facility after an operation is completed and an invoice is provided to the loan recipient and A Heavenly Loan. If a car is being purchased, the funds will be provided upon the final sale and after A Heavenly Loan receives confirmation of the purchase.

How does A Heavenly Loan ensure applicants repay loans?
There are important answers to this question. First, the extensive application and review process will validate the trustworthiness of loan recipients. It is the Foundation’s hope that loans will be made to people of character and integrity.
Secondly, whenever as asset is acquired as a result of the loan, a “Note” or debt instrument will be secured against the asset and a loan agreement must be signed by the applicant. For example, if a house is purchased, a Note will be secured against the property.
If there is no asset acquired as a result of a loan, the loan recipient must sign a loan agreement and a Promissory Note.

How does a loan recipient make payments?
Once the loan is received, the recipient will have clear instructions as to when and where he will make payments.

Why does A Heavenly Loan restrict communication to email?
There is no need to communicate other than by email. The loan review and approval process is the responsibility of the Foundation, with little control and influence by the potential recipient. The use of email is efficient and cost effective.
As A Heavenly Loan requires additional information and involvement, the applicant will be contacted.

Why doesn’t the Foundation provide dates as to when it will respond to applications?
The Foundation works according to its own schedule and abilities. As such, the Foundation will not detract from its mission by responding to arbitrary dates that only serve to give any and all applicants a response. A Heavenly Loan will focus its efforts on reviewing qualified applicants and the subsequent approval process.

If I do not receive a response to A Heavenly Loan application, is it reasonable to conclude that the loan was not considered for final approval?
Yes. Depending upon the amount of time that has lapsed since the application was submitted, this is a reasonable conclusion. However, it does not mean the application will not be considered.

Does A Heaven Loan accept donations?
No. As the primary beneficiary of eRaffle.com, A Heavenly Loan encourages everyone to become a member. As members benefit from eRaffle.com, A Heavenly Loan benefits.
Furthermore, any member of eRaffle may donate an item or service to be eRaffled on behalf of A Heavenly Loan. Please visit the Donate page for further information.