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. Before you fill out this form, please note that your application is only complete once this form is filled out PLUS your guarantors have filled out and submitted their forms. 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
Loan applications are considered complete once you and your guarantor(s) submit fully completed applications
Completed applications are reviewed by HFLAGW
You will be contacted to schedule a phone interview
Following your interview, your application will be presented to the Executive Committee of the HFLAGW board 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