Need financial help with education, small business loans, business development, job training, car purchase or car repairs, refugee/immigration resettlement, or emergency financial assistance? If you are a Jewish resident of San Diego, you may qualify for an interest free loan with us.
To begin the application process for a Hebrew Free Loan, download the Pre-Loan Application or Student Application to your computer, complete and save the application, then email it as an attachment to Nina Vaysburd at email@example.com.
Do I Need to Have a Job? Not necessarily, but you must have the ability to repay the loan through some occupation or business and provide proof that you are in a position to handle the repayments on schedule.
How Do I Apply? You will need to fill out a form, called a Pre-loan Application, to see if you quality. You will be asked questions such as your name, address, occupation, place of employment (if employed), the amount of the loan requested, and the reason you need the loan. To qualify, you must have two co-signers who reside in Southern California. You may complete the application by clicking here to download the PDF application, filling in your information, and emailing the completed form to Nina Vaysburd at firstname.lastname@example.org. To have a Pre-Loan Application mailed to you, call us at (858) 637-3232.
How Much Can I Borrow? Funds are limited. The maximum amount that can be borrowed is largely governed by how much money is available and the amount you can repay on a monthly basis. Maximum amounts range from $3,000 to $7,500 depending on the purpose of the loan and your ability to repay.
What Guarantees Do I Have to Provide? You must have a verifiable source of income and show you are able to repay the loan. You will have to sign a promissory note in the amount of the loan. This will detail the schedule of repayments and the payment amounts. As previously indicated, the Hebrew Free Loan program requires you to provide two co-signers who will be responsible for repaying the loan should you be unable to fulfill your obligations.
Co-signers will have to fill out a financial statement and a guarantee in the amount of your loan. They will be contacted if you are in arrears with any of your scheduled payments.
How Long Does it Take to Obtain a Loan? Once your Pre-loan Application is received, you will be contacted within five business days to schedule an appointment for an interview with the JFS Loan Coordinator. If you meet all of the qualifications, your JFS Loan Coordinator will assist you with completing the full application. Once complete, the application will be forwarded for further processing to confirm your income and the financial status of your co-signers. Co-signers will be required to authorize a full credit report. After everything is received and the loan packet is complete, the application is reviewed by an independent loan committee. This process takes approximately seven to ten days before a check is issued. So, the entire process from initial application to loan closing takes about three weeks under normal circumstances.
How Do I Pay Back the Loan? JFS contracts with the Jewish Free Loan Association (JFLA) of Los Angeles for loan processing and servicing. You will be given a payment schedule and payments are made by mail with a check or money order payable to JFLA of Los Angeles.
Is My Loan Kept Confidential? Your loan is not a matter of public record and will be kept confidential. If the loan is not repaid as required, JFS reserves the right to use legal means to recover funds.
Is the San Diego Hebrew Free Loan Association a charity? No. The purpose of the Hebrew Free Loan program is to bolster the financial independence and self-sufficiency of men and women in the San Diego Jewish Community.