Overcoming the Financial Challenges of the Immigrant Journey

When war drove Tetiana from her home in Ukraine in 2023, she found refuge in the United States—along with the difficult challenges that come with starting over in a new community with unfamiliar systems.

“It was a major culture shock. I came from a large city and landed in the quiet suburbs of Maryland,” said Tetiana, whose escape from Ukraine took three traumatic and exhausting days. “It was a complete shift from the life I knew back home.”

Like many refugees, Tetiana had to adapt quickly to her new community while processing the trauma of her journey.

“The transition was incredibly hard,” she said. “I still carry that survival instinct—that feeling of always needing to be ‘ready.’”

Tetiana eventually found a steady job and began focusing on her long-term goals, which included studying law, her field of expertise back in Ukraine.

One of the biggest obstacles to achieving her goals, however, was establishing credit.

“Back in Ukraine, I used credit cards, but I never had to think about a ‘credit score’ the way we do here,” said Tetiana. “In the U.S., without a credit history you are stuck with very high interest rates that make it feel impossible to get ahead.”

With her credit card debt mounting, Tetiana knew she needed help. “The rates were so high that I couldn’t make progress, and it was damaging my credit score. I felt so trapped.”

Her immigration case manager referred her to New American Lending. This innovative loan program from Global Refuge provides personal and business loans with affordable loan rates, approvals for applicants with challenged credit or no credit, and free financial and business coaching.

To qualify for a loan from New American Lending, a person must earn less than 80% of the median income of their zip code. Tetiana applied and was approved for a Riba-free loan, meaning the loan does not charge interest, and the borrower repays only the agreed-upon amount without added interest.

“This program truly rescued me. I could hardly believe it when I finally paid off all those cards,” said Tetiana, adding that she can now focus on building her savings toward buying a new car. “Being here alone in the U.S. can be scary because you feel there is no one to catch you if you fall. Finding this support was a huge stroke of luck.”