The Hebrew Free Loan Association of Greater Washington (HFLAGW) (Lender) is proud to provide zero-interest loans to qualified Jewish borrowers (Borrower) in the DC metro area. Please read the full loan guidelines here.
Payment terms: Loan repayments begin on the first of the month after funds have been disbursed.
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
Loans to full-time student of $5,000 are paid to the borrower in two equal installments one year apart, assuming the borrower is still enrolled in school. Repayment is $25/month for the first two 2 years, $175/month after that.
Other disbursements and repayment terms as agreed upon by the Borrower and Lender
All loans require guarantor(s) to co-sign on the loan.
Loans up to $7,500: 1 guarantor
Loans over $7,500: 2 guarantors
Guarantors must meet the following criteria:
Income of at least $70,000
At least one must reside in the DC Metro Area and be Jewish
Each must complete the guarantor form in full
Don't have a guarantor? Click here to see if you are eligible for an emergency Covid loan, where no guarantor is required.
Loan applications are considered complete once you and your guarantor(s) submit fully completed applications
Once loan is complete, you will be contacted to schedule a phone interview
Following your interview, your application will be presented to the Executive Committee for review and approval
If the loan is approved, you and your guarantors must sign a promissory note and then the funds are disbursed
Hebrew Free Loan Association of Greater Washington