General Needs Loan
Our General Needs Loan is designed to assist individuals or families with the expected and unexpected costs in life. Our goal is to help New Jersey residents overcome financial challenges and pursue life dreams. These loans can cover expenses including:
Medical and dental expenses
Hearing aids
Debt consolidation
Car repairs
Home improvement costs
First and last months rent
Moving expenses
And more
-
Who May Apply
The borrower must live in Bergen, Essex, Hudson, Morris, Monmouth, Middlesex, Passaic, Sussex, and Union counties.
The borrower must be a member of the Jewish community or work for a Jewish organization.
If the borrower has a spouse/partner, that individual is also required to sign the loan documents.
The borrower must be 21 years of age or older.
-
Loan Terms
General Needs loans have varying repayment terms depending upon the purpose and amount of the loan.
General Needs loans over $2,000 require an Endorser who is a New Jersey resident, and loans above $5,000 require two Endorsers – one of whom is a New Jersey resident.
A grace period of approximately 3 months is given before repayment begins.
The repayment period ranges from 18-60 months.
-
Who May Be an Endorser
When two endorsers are required, at least one must be a New Jersey resident, who is credit-worthy.
Endorsers may not be a member of the clergy, or political office holder, or on active duty in the military.
An applicant may not be a borrower and an endorser at the same time.
The Endorser must fill out an information form and is required to sign the applicant’s loan documents.
Get Started.
We're here to offer a hand up not a hand out. Let us help.
