Loans may be made for a wide variety of circumstances, please feel free to contact us if you have any questions regarding eligibility. For questions about other possible loans contact email loans@hfla.org. Each loan request will be considered on an individual basis. The following are typical examples of items HFLA loans are used for:
- Emergency Loans including housing (rent, deposits, payments, repairs), transportation (purchase, repair to vehicles), childcare
- Health Care including medical and dental emergencies, short term home health care, nursing health care, medical equipment, walkers, hearing aids, glasses, wheelchairs
- Catch-up including monthly payments because of loss or reduction of employment income
Loan information
The maximum loan amount is $2,500. A typical repayment period is 24 months based on the loan amount and the HFLA’s discretion. Loans will be approved at the sole discretion of the HFLA Loan Committee. All loan payments begin between one and six months after receipt of the loan.
The information on this page and in the HFLA loan documents is provided to help in the application process. The documents are self-explanatory, but it is also recommended that each applicant contact our office prior to submitting an application. Please carefully review all the loan documents before completing the application. All forms are required for every loan and must be filled out completely and legibly before HFLA can review any request for financial assistance.
Basic Loan Criteria
In order for an applicant to qualify for an HFLA loan, he/she must meet the following criteria:
- Must be Jewish.
- Have a legitimate need. Priority will be given to applicants who are unable to obtain funds through normal lending sources, or normal lending sources are unaffordable.
- Is at least eighteen (18) years of age.
- Currently resides in the greater Austin area (Travis, Williamson and Hays Counties) with at least 3 months residency. The residency requirement may be waived at the sole discretion of the Loan Committee.
- Is a U.S. citizen or legal resident.
- Can demonstrate credit worthiness.
- Can demonstrate the ability to repay the loan on time.
- Has satisfactorily paid in full any prior loan from HFLA.
- Is not currently a Cosigner or Guarantor on another loan.
All loans require guarantors. Loans for less than $1,000 require one (1) guarantor and loans for amounts of $1,000 or greater require two (2) guarantors.
How to Apply
STEP 1: Obtain loan forms from the HFLA website. Review the application forms and contact the Loan Committee if you have any questions.
STEP 2: Complete and return the Loan Application Form and the Authorization to Obtain a Credit History by mail to the HFLA address or via email or fax [1-888-609-8262] to the Loan Committee. Arrange to have your Guarantors complete and return by mail or email the Guarantor’s Information Form, the Guarantor’s Agreement and the Authorization to Obtain a Credit History. All forms must be completed in full in order to be considered for a loan. Guarantors will be contacted to confirm their understanding of their responsibility. (Forms are available online to print from our website at www.hfla.org). If the loan you are applying for is urgent in nature, please let the Loan Committee know so they may act accordingly.
STEP 3: Meet with a loan coordinator. If you meet the basic loan criteria you will be contacted by telephone to schedule an appointment.
STEP 4: Within 1-2 weeks of your appointment, the Loan Committee will meet to review your application and you will be notified of approval or denial by email or telephone call.
STEP 5: Upon approval, you will receive a Promissory Note and Loan Disclosure. You will be contacted by telephone to schedule an appointment. At your appointment you will sign the documents and your payment schedule, and will receive the loan check.
HFLA Loan Application Form
HFLA Guarantors Agreement
HFLA Guarantor Information Form
HFLA Authorization to Obtain a Credit History