Hebrew Free Loan Association of Greater Washington is proud to provide zero-interest loans to qualified Jewish borrowers in the DC metro area.
HFL offers general personal and business loans. Personal and business loans are generally offered for a maximum of $30,000. Loans to students are also available to undergraduate students who are junior or seniors and graduate students for a maximum of $20,000 (Loans to student are paid to the borrower in two equal installments one year apart, assuming the borrower is still enrolled in school; the first half of the loan is provided at closing and the second one year later). All loans are subject to review of the borrowers ability to repay and require 1-2 guarantors.
Loans to launch or grow a business require a business plan to be submitted for review.
If you lost your job in 2025 and are actively seeking new employment or if you were impacted by the federal furlough, HFL's Unemployment and Furlough Loan Program offers interest-free loans up to $18,000, disbursed in monthly installments of up to $3,000 for a maximum of six months. These funds are designed to help cover basic living expenses while you wait for back pay or search for your next opportunity.
Please note that if you or your spouse are in the process of declaring bankruptcy or considering entering bankruptcy, we request that you refrain from applying for a loan. Please reach out to HFL staff to discuss your personal situation and when it might be an appropriate time to apply.
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
Loan of $25,000: $625/month for 40 months
Loan of $30,000: $680/month for 44 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
Loans of $20,000: $50/month for 25 months, $445/month thereafter
Repayment amounts for Unemployment and Family Building Loans
Repayment begins after employment is secured or after 9 months (whichever comes sooner); monthly repayment amounts are on a sliding scale depending on the amount borrowed, increasing gradually
If back pay is received from the government, HFL loan repayment is expected in full within one week of back payment receipt
Example:
Borrower receives $9,000 over 3 months, finds a job in month 4
Repayment starts in month 5 at $100/month, increasing later to $200/month
If still unemployed after 6 months
Repayment begins with a minimal amount and increases once employed
Guarantors
All loans require guarantor(s) to co-sign on the loan. Guarantors are in addition to the borrower. A borrower (or their spouse) cannot serve as guarantor for their loan.
For HFL's General Loans
Provide:
Loans up to $10,000: 1 guarantor
Loans over $10,000: 2 guarantors
For HFL's Unemployment and Family Building Loans
Provide:
1 guarantor and a credit score at or above 740 (credit check required) or 2 guarantors
All guarantors must meet the following criteria:
Net income of at least $70,000 or at least three times the loan amount, whichever is greater
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 HFL 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; guarantors must be US citizen
Please note: by serving as a guarantor, you and your spouse are not eligible to apply for a HFL loan until the original loan is repaid in full. Please keep this in mind before agreeing to serve as a guarantor.
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 HFL
If the loan is approved, the borrower and guarantors will sign the promissory note and funds will be disbursed
For additional questions, please contact Shuli Tropp, Executive Director, at [email protected] or 301.859.0346. *The loan committee reserves the right to authorize a different amount than that which is requested
