Overview

Hebrew Free Loan Association of Greater Washington is proud to provide zero-interest loans to qualified Jewish borrowers in the DC metro area.

HFLAGW offers personal and business loans. Personal and business loans are generally offered for a maximum of $25,000. Loans are also available to undergraduate students who are junior or seniors and full time graduate students for a maximum of $15,000 ($7,500 at the time of signing, $7,500 one year later, assuming the borrower is still enrolled in school and has good repayment history). All loans are subject to review of the borrowers ability to repay.

Loans to launch or grow a business require a business plan to be submitted for review.

HFLAGW also offers loans up to $5,000 to those working for Jewish non-profits regardless of religious affiliation through The Paul & Annetta Himmelfarb Foundation Jewish Communal Employee Loans.

Payment Terms

Loan repayment begins on the first of the month after the funds have been disbursed.
​Repayment amounts for traditional loans:

• Loans of $5,000: $200/month for 25 months
• Loans of $7,500: $250/month for 30 months
• Loans of $10,000: $280/month for 36 months
• Loans of $15,000: $420/month for 36 months
• Loan of $20,000: $500/month for 40 months
• Loans of $25,000: $595/month for 42 months

Repayment amounts for loans to students:

• Loans of $5,000: $25/month for 25 months, $175/month thereafter
• Loans of $10,000: $50/month for 25 months, $245/month thereafter
• Loans of $15,000: $50/month for 25 months, $400/month thereafter

Guarantors

All loans require guarantor(s) to co-sign on the loan.

• Loans up to $10,000: 1 guarantor
• Loans over $10,000: 2 guarantors

Guarantors must meet the following criteria:
​

• Net income of at least $70,000
• At least one must be Jewish
• Be willing to cover the remaining value of the loan if the borrower is to miss payments
• Cannot be borrowers or guarantors for another HFLAGW loan
• Each must complete the guarantor form in full
• Guarantors cannot be married to the borrower or to one another
• It is preferred that at least one guarantor is local, but this is not required

Process

• Loan applications are considered complete once the borrower and guarantor(s) submit fully completed applications
• Borrower will be contacted for a phone interview regarding the loan request
• Following the interview, the application will be reviewed by HFLAGW
• If the loan is approved, the borrower and guarantors will sign the promissory note and funds will be disbursed

Ready to Apply?

• Loan application
• Guarantor application
• The Paul and Annetta Himmelfarb Foundation Jewish Communal Employee Loans application

​For additional questions, please contact Shuli Tropp, Executive Director, at shuli@hebrewfreeloandc.org or 301.859.0346.
​
*The loan committee reserves the right to authorize a different amount than that which is requested

Hebrew Free Loan Association of Greater Washington

10421 Motor City Drive
#342044
Bethesda, MD 20817

Phone: (301) 859-0346
​Email: info@hebrewfreeloandc.org

​​Tax ID: 53-0227814