How do I get started?
Who is eligible?
You must be a Jewish resident of legal age in the state of Michigan.
What are the qualifications?
You are unable to secure a loan through traditional lending institutions and should have some source of income to repay the loan.
How much can I borrow?
Loan amounts vary depending on need and purpose. Available loan programs and amounts will be discussed with you during a confidential interview.
How much time do I have to repay?
Loan repayment terms are based on the loan amount and typically are from one to three years. Special circumstances that require longer terms will be discussed during your interview.
When will I know if my loan is approved?
You will know on the day of your interview if your loan is approved, and you will sign a promissory note for the amount of the loan.
Does anyone else need to sign the promissory note?
Two qualified co-signers, who will agree to endorse your loan, must sign the promissory note. Hebrew Free Loan will approve all co-signers and verify their credit history.
How long does it take to receive my check?
Generally one week is needed to verify and process each of your co-signer’s information. You will then be contacted by phone to pick up your check at the office.
How else can I support Hebrew Free Loan?
You can make a donation today to help Hebrew Free Loan to help others. We will use your donation to both provide loans and to cover our lean agency operations.