!!! Emergency Response Effort !!!
In response to COVID-19 (Coronavirus) outbreak, The Hebrew Free Loan Association of Austin is proud to provide interest-free loans to Jewish borrowers in the greater Austin area. At this time, we are considering loans for those in our community impacted by the effects of Coronavirus. We are currently accepting Personal Loan Applications for up to $5,000 with 1 guarantor to ensure repayment. ACH repayment will be required through your bank account after a 90-day grace period, followed by 24 equal monthly payments.
HEBREW FREE LOAN ASSOCIATION OF AUSTIN
Hebrew Free Loan of Austin provides short-term financial support through interest-free loans to springboard you to your next step in life or help in case of emergency. We provide loans for all types of situations.
EXAMPLE OF WAYS YOU CAN USE AN HFLA LOAN
Living costs while job searching or starting a business
Healthcare, medical and dental expenses
Summer camp tuition, study abroad costs and student trips to Israel
School books, professional education, exams and licenses
Car payments and repairs
Rent, mortgage payments, security deposits and home repairs
Catch-up on regular bills
And many more!
HOW IT WORKS
This is our typical process. We’re flexible and want to support you to meet your life goals, so please contact us to discuss your specific situation.
1) Contact us to confidentially discuss your loan request.
We’ll answer all your questions, tell you about the process, and discuss the loan criteria. Let us know if your loan request is urgent so that we can review your application quickly.
2) Submit your application forms and supporting documentation.
All applicants must submit a Loan Application Form. If you’re printing and filling out your application by hand, make sure it is legible. Please email supporting documentation to firstname.lastname@example.org:
most recent employer pay stub
most recent W-2
most recent tax return
copy of your license (or other valid picture ID)
most recent proof of mortgage or rent payment
most recent utility bill
free credit report: www.annualcreditreport.com (*save as PDF for email)
3) Identify your loan Guarantor(s).
Arrange to have your Guarantor(s) complete the Guarantor Information Form. Depending on loan size, your loan may require one or two Guarantors. NOTE: In most cases HFLA requires Guarantors to secure a loan. If this is an issue, please contact us directly to discuss your situation.
4) We’ll contact you to schedule an appointment to discuss your application.
5) We contact your guarantors to confirm their understanding of their responsibility.
6) The HFLA Loan Committee meets to review your application.
This happens normally within a few days of your submission. We will notify you of approval or denial by email or phone call. NOTE: In case of emergency loans may be approved within two days.
7) Upon approval, you will receive a Promissory Note and Loan Disclosure.
We will contact you by telephone to schedule an appointment. At your appointment, you will sign the documents and your payment schedule, and will receive the loan check.
8) You’ll repay your loan according to our mutually agreed upon payment schedule, which is typically 24 months.
HOW TO SUBMIT YOUR APPLICATION
All above forms must be completed in full in order to be considered for a loan.