Who is The Flagstone Initiative?

The Flagstone Initiative is a 501(c)(3) nonprofit dedicated to promoting financial stability for renters. We partner with property owner/operators to help their residents.

What is a Flagstone Rent Loan?

Flagstone Rent Loans help residents pay rent at participating properties when they have unexpected expenses or a short-term loss of income. The program relies on repayment from borrowers in order to continue providing assistance to others in need.

How does it work?

Residents approved for a Flagstone Rent Loan receive $500 paid directly to their rent, and return the money to the fund in twenty-five $20 weekly payments over six months for other residents to use.

How much does it cost?

There are no fees and no interest. As a nonprofit, we at The Flagstone Initiative don't want to profit off your financial need. That said, your repayment is critical for us to continue helping others in need.

Do you run a credit check?

Flagstone doesn’t pull credit reports for approval, and you may qualify even if your credit isn’t great. In the application process, we ask for your credit score range, but this is not used for approval, only for informational purposes.

How is the money delivered?

Flagstone Rent Loans are paid directly to your rent on your behalf. If the loan is greater than the amount due, the additional funds will be applied as a credit toward your next payment.

What’s the catch?

There’s no catch. We're a non-profit dedicated to helping renters with financial stability. There are no fees and no interest, but your repayment is critical for us to continue helping others in need.

When do I have to pay it back?

Flagstone Rent Loan recipients repay the $500 in twenty-five $20 automatic weekly transfers from your debit card, starting the week after the agreement is signed. Twenty-five weeks is roughly six months.

How do I pay it back?

After you are approved and sign the agreement, you are taken to a page to set up automatic repayments, like a subscription, $20/week for 25 weeks. You enter your debit card for these automatic payments, and we cover the transaction fees.

Why do I see a temporary authorization for $1 on my card after I sign up for repayments?

When you submit the repayment form, we authorize a $1 temporary charge to ensure that the information provided will work for repayments. If the temporary authorization fails, the page will show an error. If the temporary authorization goes through, the signup will complete and then we will reverse the authorization. It is possible that you might see a $1 temporary authorization from "The Flagstone Initiative" on your card statement for a few days.

Additional questions?

Drop us a note at hello@flagstoneinitiative.org