Frequently Asked Questions

1. Can I apply for a loan if I don't have a child's referral?


Yes, we will accept an application without a child's referral. When we receive the application we will contact you to conduct a preliminary review and then request periodic updates as you await your referral. After you have accepted a referral and we have received the child's information we will present your application to our Board for a final decision.




4. Can I apply for a loan after I have traveled to bring my child home?


No, new applications will not be accepted after the adoption is complete and the child has been brought home.




2. If I apply for a loan and lose my referral, what happens to my application?


We will hold your application until you receive another referral but you may need to update some of your information and we will request that you send a picture and medical information for the new referral.




12. If I am approved for a loan, how will the loan be paid?


The loan check will be sent directly to the applicant close to the date of final travel. In some circumstances, part of the loan funds can be dispersed earlier in the process, reserving the remaining part of the loan to help with the final expenses of bringing your child home.




3. If I have already paid most of my adoption fees, can I still apply for a loan?


Yes, if all agency and program fees have already been paid, A Child Waits can help with the final travel costs to bring your child home.




5. If I make more than $150,000 can I apply for a loan?


We will only consider families with an income over $150,000 if we have spoken with the family and determined there are extenuating circumstances. Please do not apply without calling our Foundation to be certain that we are able to accept your application.




6. What are the credit requirements for applying for a loan?


As part of our loan application process, we will run a credit report to get information on the applicant's ability to manage their credit and other existing debt. We recommend that families who have had difficulty with their credit in the past to give us a call before applying. To improve an applicant's chances of being approved for a loan, please ensure your co-signer has excellent credit. Additionally, if your credit score is 750 or higher, the requirement for a co-signer may be waived.




8. Will my loan be denied if my co-signer doesn't meet the criteria?


No, if the co-signer does not meet our criteria, we will give the applicants an opportunity to secure a different co-signer in order to proceed with the application.




11. What are the terms on a loan with A Child Waits Foundation?


The maximum loan amount is $10,000. Applicants make monthly payments to the Foundation with the first payment due 30 days after the disbursement of loan funds. The interest rate is a fixed rate of 3% and applicants have up to five years to repay the loan. Families can pay their loan off early if they choose and there are no fees or pre-payment penalties.




7. What are the co-signer requirements?


The co-signer should have excellent credit and demonstrate the ability to repay the loan if it becomes necessary. The co-signer must have his or her notarized signature on the promissory note, submit a copy of their most recent tax return and sign the release form that allows A Child Waits to run a credit check. Other than the credit check on the co-signer's credit report, the co-signer's credit will not be affected by being a co-signer on the loan. For confidentiality purposes, co-signers may send their documents directly to the Foundation.




9. If I am married, can my spouse be my co-signer?


No, spouses are co-applicants and not considered as a co-signers.




10. If I have excellent credit do I still need a co-signer?


We will consider waiving the co-signer requirement for adoptive families with a credit score of 750 or better. Please call the Foundation before applying. Since we are a non-profit charitable foundation and all repaid loans enable us to help more families, we are unable to waive this requirement for applicants with lower credit scores.