The Flagstone Initiative
Flagstone Initiative is a nonprofit that prevents eviction by offering $500 no-fee, no-interest Rent Loans to families living paycheck to paycheck who are less than a month behind on rent. Loans are paid directly to rent with manageable repayments of $20 per week over 25 weeks, intervening early before small financial setbacks escalate into eviction.
- Financial Technology
Funding
Founders
Founder details are not available yet.
Product
Problem
Over 22 million American families are living paycheck to paycheck with little or no savings, leaving them vulnerable to eviction when unexpected expenses like illness or car repairs arise. Small financial setbacks can quickly escalate into falling behind on rent and ultimately losing their homes.
Solution
Flagstone prevents eviction upstream by offering no-fee, no-interest Rent Loans to residents who are less than a month behind on rent. The $500 loans are paid directly to rent, with manageable repayments of $20 per week over 25 weeks. By intervening early—before families fall significantly behind—Flagstone helps keep small problems from becoming big problems like eviction. The organization prioritizes people over profits as a nonprofit, always taking the resident's side.
Target Audience
Primary beneficiaries are American families living paycheck to paycheck with little or no savings who are at risk of falling behind on rent due to unexpected financial setbacks.
Features
- $500 no-fee, no-interest Rent Loans with no hidden costs
- Loans paid directly to rent to ensure funds are used for housing
- Repayment structure of $20/week for 25 weeks, designed to be manageable for low-income households
- Eligibility focused on residents who are less than a month behind, enabling early intervention
- Nonprofit 501(c)(3) structure that prioritizes people over profits