Passover can be a very exciting and wonderful time to be with friends and family, but in light of the high prices we are all facing with inflation and supply chain issues, it can also add an undue financial burden.
In response, the Hebrew Free Loan Association of Greater Washington has created a Passover micro-loan program available to Jewish borrowers across the DC Metro area.
Loans of up to $750 are available through a simplified application to help with expenses related to Passover.
Interest-Free. Passover micro-loans have no fees and no interest, and do not require a guarantor. 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.
Simple Repayment. Repayments will be distributed over six months which is $125/month for a $750 loan. Loan repayments will begin June 1.
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 loans do require 1-2 guarantors.
Loan applications will be reviewed in the order they are received by HFLAGW staff and board.
If approved, HFLAGW staff will send electronic 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.