Grant 0953 Enrollees

Enrollment has been reopened due to the feds extending the grant to April 2022.  Final payout requests from Grant 0953 for Home Purchase, Education or Business Development are due to FAIM Admin by April 1, 2022 for processing.  If your client can spend by April 2022, please enroll in this grant first.  Grant 0953 enrollees may request final payout upon reaching the minimum enrollment requirement of 6 months + 1 day from date of first deposit – IF – he/she has:  met their savings goal, successfully completed the Financial Literacy training hours and the additional asset-specific training hours and the requirements of their chosen asset.

 

FAIM enrollment in the State 2083 grant was opened March 9, 2021. 

  • Forms have been updated for the new grant and posted on this website.  Dispose of any electronic or hard copy versions of old forms and use the current versions.
  • There are only about 60-70 slots available statewide.  Openings will be filled in the order that complete applications are received.  Submitting an incomplete application packet to FAIM Admin will NOT hold a spot in the program for the client.  FAIM coach will be notified if an application packet is incomplete and it will go to the bottom of the pile.  If slots in the program fill before follow up is provided, you will be required to exit the client. 
  • Previous matched payouts completed for anyone in the household that has been enrolled will affect applicant’s eligibility for match.
  • Grant 2083 enrollees may request final payout upon reaching the minimum enrollment requirement of 6 months + 1 day from date of first deposit – IF – he/she has:  met their savings goal, successfully completed the Financial Literacy training hours and the additional asset-specific training hours and the requirements of their chosen asset.

 

Enrollment Forms

Please note – Bremer Bank will NOT accept electronic signatures on any forms sent to them, client and coach must physically sign.

Payout Request Forms

Business Asset

Education Asset

Home Purchase Asset

  • Loan Estimate – send with payout request forms
  • Closing Disclosure (CD) – send final, signed copy after closing date or if doing a principal reduction payout
  • Current Mortgage Statement – send with copy of final CD if doing a principal reduction payout.  Another copy is required within 30 days of the payout to document that the FAIM payment was applied to principal only.
  • Household Budget Estimate Form – located in Financial Training/Assessment Tools section
  • Mortgage Qualifier Form

Vehicle Purchase Asset – in process, stay tuned

  • Household Budget Estimate Form – in Financial Training/Assessment Tools section.  Participant’s budget must support cost of vehicle ownership
  • FAIM – Guidelines for Vehicle Purchase Asset Track March 2021
  • FAIM – Purchase Agreement – Private Party March 2021– send with payout request
  • FAIM – Used Vehicle Inspection Form March 2021  – send with payout request
  • Letter of Guarantee – to dealership/seller may be requested from FAIM Admin, if needed
  • Required with payout: 
    • Copy of signed Purchase Agreement – another copy required after payout to show FAIM funds were applied
    • Copy of vehicle title (both sides) and lien release card (if applicable) – another copy required after payout to document title transfer
    • Copy of Vehicle Inspection Report (with passing grade)
    • Proof of FAIM participant’s valid MN driver’s license
    • Proof of valid vehicle insurance
    • Vehicle value from kbb.com or nadaguides.com – purchase price must fall between the retail and private party values.

Exit Forms

Program Forms

Financial Training / Assessment Tools