Building Jewish Businesses
At Hebrew Free Loan, we believe strong businesses build strong communities. A Building Jewish Business loan provides the essential funding needed for entrepreneurs and small business owners to grow, expand and thrive. We understand that every business has unique needs, and this loan is designed to support a wide range of expenses including equipment, marketing and advertising, branding, print materials, inventory, payroll, renovations and more.
Our loans are completely interest free - borrowers repay only the amount they borrow. HFLNJ works with you to structure a repayment plan that fits your business’ cash flow. By supporting your business, we are investing in the growth and vibrancy of our community.
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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 provide a business plan including a current and projected profit and loan statement.
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Loan Terms
Building Jewish Business loans have varying repayment terms depending upon the amount of the loan.
Building Jewish Business 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, depending on amount and usage.
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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.
Apply Today.
If you have a business dream, Hebrew Free Loan is here to help you bring it to life. APPLY TODAY and take the next step toward building a brighter future.
Additional documentation that may be required after initial application:
Description of management/principals (resumes)
3-year financial projections and financial statements/tax returns
Copy of lease/dead for location of business
Proof of business insurance and relevant licenses and/or permits
Proof of pursuit of other sources of credit (banks, alternative financing, grants)
Bank account information
