Getting a Loan
This page describes our personal loan program. We also offer business loans.
Personal loans include an Education Fund, and a Life Cycle Fund.
We lend for many other reasons, too.
Loans for fertility treatments are available through the Be a Family Fertility Fund.
How much money can I borrow?
For most purposes, we offer loans up to $7,500. (The R & B Business Loan Fund at Congregation Beth Or and the Be a Family Fertility Fund offer larger loans.)
How much will it cost me?
Nothing. Our loans are interest-free and have no processing fee.
When do I have to pay?
Repayment begins approximately one month after the loan is received.
Loans up to $5,000 (other than education loans) must be repaid within two years.
- Loans from $5,001 to $7,500 (other than education loans) must be repaid within three years.
Education borrowers may request a lower monthly payment while the student is enrolled in school.
Who can get a loan?
To qualify for a loan from the Hebrew Free Loan Society, you must meet all of the following criteria:
You also need co-signers, who promise to repay your loan if you are unable to do so. Co-signers must meet all of the following criteria:
Be Jewish or have a connection to the Jewish community, such as working for a synagogue or Jewish communal organization.
Live in Bucks, Chester, Delaware, Montgomery or Philadelphia county in Pennsylvania, or Burlington, Camden, Gloucester or Mercer county in New Jersey;
Your husband or wife cannot be a co-signer for your loan.
The Hebrew Free Loan Society lends money for many purposes, including but not limited to:
Live in Pennsylvania or New Jersey; for loans requiring more than one co-signer, we will accept one co-signer from another state.
Have good credit;
Be Jewish, if the borrower is not Jewish.
- Medical and dental bills
- Home repairs
- Apartment rental and deposits
- Home purchase closing costs
- Family member immigration
- Fertility treatments
- Jewish camp
- Vocational and job training
How do I apply?
Click here to start the loan application process or call 267-709-9652 and leave a message. Be sure to include your address and phone number.