How to Apply for a Loan
Follow the step-by-step instructions below to apply for an HFLSD interest-free loan, and learn about the loan approval and closing process.
Step 1: To qualify for an HFLSD loan, you must:
- have legitimate need, be a responsible individual, demonstrate ability to repay and an inability to obtain funds from traditional lending or other sources;
- be a Jewish resident of San Diego County or part of a household with one self-identifying Jewish individual in San Diego County, or work for a Jewish communal organization in San Diego County, or are applying for a business loan in partnership with a San Diego County Jewish resident;
- have low to moderate annual household income;
- provide one or two qualified guarantors, depending on the loan program;
- Some loan programs have additional requirements; each loan program page describes the specific requirements for that loan.
- For more detailed borrower information, visit our Borrower’s FAQ page
What are the HFLSD income limits?
To determine whether you qualify for an HFLSD loan, locate your household size in the chart below. The amounts below are the moderate-income limits for households in the San Diego area, based on 80% of the Area Median Income (AMI) for San Diego County per the Health & Human Services Agency guidelines.
If your pre-tax annual household income is at or below the amount listed for your household size, you are eligible to apply for an HFLSD loan. If your annual household income exceeds this amount and you have significant need of an interest-free loan, please contact HFLSD at (858) 345-8018 or info@HFLSD.org to discuss whether you qualify for a loan based on your specific situation.
|
Household Size |
1 Person | 2 person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person |
|---|---|---|---|---|---|---|---|
|
Household Income: |
$84,900 |
$97,900 |
$109,150 |
$130,950 |
$140,650 |
$150,350 |
$160,050 |
Step 2: Find the HFLSD loan type that is needed
HFLSD offers interest-free loans to meet emergency, health, education, business, and other needs.
View the different loans we offer and select the one that is right for you. Each loan program page describes the application requirements for that loan.
Step 3: Complete the application form for your loan
The general online application form can be found here.
Please be sure to answer all questions on the form.
Please note that if you are married, your spouse must complete and sign the application form.
Step 4: Send the link to the guarantor application to your guarantors
The guarantor application form is located here. Please be sure to answer all questions on the form.
If your guarantors are married, their spouses must complete and sign the guarantor forms. Please ensure that you or your guarantors submit their completed and signed guarantor forms prior to your loan interview. See Step 5 below for more information about the loan interview
Step 5: Schedule a loan interview and ensure all required documents are submitted to HFLSD prior to the interview.
Contact info@hflsd.org or (858) 345-8018 to schedule your video (Zoom) loan interview.
All loans require the following documents:
- Completed and signed application form;
- Completed and signed guarantor forms;
- Copies of IDs that include signatures for applicants, their spouses, their guarantors, and their guarantors’ spouses; and
- A voided check from the applicant.
Certain loan programs may require additional documents.
Please ensure you have submitted all required documents prior to your loan interview. This will help prevent delays in processing your loan application.
Where and when will my loan interview take place?
Loan interviews are conducted by video (Zoom) call Monday through Thursday.
What do I need to submit prior to my loan interview?
Each loan program page includes information about all the required documents for that type of loan. Please review this information closely and ensure all required documents are submitted to HFLSD prior to your loan interview.
Step 6: Loan approval and closing
You will hear from an HFLSD representative within approximately 48 hours after the interview if we require additional information to process your loan. Once all information is received, you will receive email notification of approval (with final loan paperwork) or denial within a week.
What do I need to do after my loan is approved?
HFLSD will email the final loan documents to you with instructions for completion as soon as your loan is approved. You will receive these documents via Docusign or regular email. The loan closing forms include:
1) a Promissory Note, to be signed by you, your spouse (if you are married), and your guarantors (and their spouses, if they are married); and
2) an authorization for automatic payments form, signed by you (and your spouse, if you are married).
3) a Release of Information to connect with a financial planner
Once HFLSD receives the completed and signed documents, we will issue your checks.
When will my loan repayments begin?
Repayments are made monthly. During your loan interview, you will tell the HFLSD Loan Officer what date you prefer to make your loan payments, and your promissory note and ACH form will include your first repayment date. Your repayments will be automatically withdrawn from your checking account on the day (whichever you selected) of each month until the loan is fully repaid.
