Loan Applications
We use a secure online form through FormAssembly Data Collection. The link below will connect you to our form at: https://www.tfaforms.com/4733316
Process
A loan application is completed by the Borrower and any Endorsers. After the loan application is completed, a representative of Hebrew Free Loan of New Jersey will reach out to the Borrower. The applicant must provide a valid New Jersey drivers’ license number and social security number with their application.
HFLNJ may require the applicant to submit additional documentation or proof of statements contained in the application. HFLNJ also reserves the right to verify any information submitted by, or on behalf of, an endorser.
Once the loan is granted, a completed copy of the promissory note will be returned to the applicant. Any endorser will also receive a copy of the promissory note as well as the loan approval letter.
For Prospective Parent(s):
Prospective parent(s) will be considered individually and jointly. At least one prospective parent (the loan applicant) must be Jewish. All loan applicants must accept and agree to the criteria, which in the aggregate form the basis of the understanding of the loan agreement. All information provided is held in the strictest confidence. Applicant(s) also must be a resident of the communities in the HFLNJ coverage area.
FAQs
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Repayment begins within 3 months after disbursement of the loan proceeds. All specific details will be outlined when your loan is approved.
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If the borrow cannot repay the loan in a given month it may be possible to reduce or suspend the loan payments for a period of time. If they cannot make the loan payments, their Guarantor is responsible to repay the loan.
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Within 2 weeks. Applications are reviewed as they are received, and borrowers are contacted within a few days of submitting their application.
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Yes. HFLNJ pulls credit reports for both borrowers and endorsers to see a pattern of responsibility in paying obligations.
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The loan amount depends on the type of loan you apply for and its purpose. Loan amounts range from $1000 to $xxxxx. Please click here for more information about our loan programs.
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Any resident of Bergen, Essex, Hudson, Middlesex, Monmouth, Morris, Passaic, Sussex, and Union counties who is Jewish or is affiliated with a Jewish organization.
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Someone who agrees to be responsible for the debt of a borrower if they default on their loan payments.
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Any New Jersey resident who is credit-worthy.
They cannot be a member of the clergy, hold political office or be on active military duty.
A person cannot be a borrower and an endorser at the same time.
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