With appreciation to the Jewish Federation of Greater Washington for their support of our emergency loans.
The Covid-19 (Coronavirus) outbreak has deeply affected our entire region, including the Greater Washington Jewish community, in many ways. Thousands in our community have lost jobs, face extra expenses, are unable to meet financial obligations, or face medical bills, as a result of this devastating pandemic.
In response, the Hebrew Free Loan Association of Greater Washington, with the support of our community partner the Jewish Federation of Greater Washington, has created a streamlined Emergency Free Loan program available to Jewish borrowers across the District, Maryland and Northern Virginia to help address this challenge to our community.
Loans of up to $2,500 are available through a simplified application to help with expenses related to the outbreak (for example, medical expenses, lost wages, childcare costs, meeting rent, or any other expenses you may be facing).
No Cost and Simple to Access. Emergency loans are available at no cost and no interest, and do not require a guarantor. Just fill out the application, and the loan can be issued. These loans will not affect your credit score.
Quick Turnaround. These loans will be processed and finalized on an expedited basis, typically within 3 business days.
Gradual Modest Repayment. Repayments will be $25/month for year, $50/month for the second year and $100/month thereafter. Repayments can begin at the time the loan is initiated or up to three months after loan initiation, at the option of the borrower.
Larger Loan Options. If you are in need of a larger loan (up to $15,000), please review our loan guidelines here and consider applying for a traditional HFLAGW loan. Larger loan do require 1-2 guarantors.
Loan applications will be reviewed in the order they are recieved by HFLAGW staff and board.
If approved, HFLAGW staff will send loan documents to the applicant within 3 business days of receipt of the loan application.
Once the loan documents, including promissory note, are signed and returned, HFLAGW will send the money to the borrower.
Thank you to the Jewish Federation of Greater Washington for their support of the Hebrew Free Loan Association of Greater Washington's emergency loans.