Emergency Loan Fund

Policy 603.19

Introduction

1.1 There may be occasions when emergency circumstances, defined as unforeseen,unplanned, and unavoidable events, demand immediate attention and require an employee to secure funds on short notice. The Emergency Loan Fund (ELF) has been established to assist Appalachian State University (the "University) employees with an alternative and convenient means of borrowing money during times of emergency or unexpected situations which create a financial hardship for the employee. Zero interest ELF loans are now available for employees with minimal payments to be made through monthly payroll deduction. The ELF program is not competing with lending institutions in any way, but rather providing a quick and easy way to offer financial assistance to employees during an emergency situation.