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In response to the COVID-19 crisis, all loans applications are being processed electronically and the client interviews are taking place by Skype or Facetime.
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JFLA makes loans, in part, thanks to the generosity of Cedars Sinai, LA City Council District 4 Loan Fund, Supervisors Mark Ridley Thomas and Sheila Kuehl.

FAQs

Get answers to many of your questions here regarding borrowers and guarantors.

The Basics

Do you have to live in Los Angeles to get a JFLA interest-free loan?

Yes, borrowers must live in Los Angeles County or in Ventura County.

How much money can I get?

Our loan amounts vary. Click here for our Loan Table.

Do you have to be Jewish to get a loan?

No. JFLA is for all.

What does “free” mean?

JFLA is a charity so, “free” means that we do not charge interest on loans to make a profit. If you borrow $500, you repay $500.

If you don’t charge interest, or fees, how do you make money?

We do fundraising to support our operations.

What is the minimum loan amount you offer?

There is no minimum loan amount.

What don’t you give loans for?

  • court or legal fees (except adoption proceedings)
  • back taxes
  • parking and traffic tickets
  • travel expenses (except for Israel Gap Experience)

Borrower Requirements

Do I need good credit to get a loan?

Not necessarily. Since COVID-19, some requirements have changed.

May I apply for two different types of loans at one time?

No, JFLA can only offer one loan at a time.

Can my spouse apply for a loan too?

No. A married couple is considered to be one borrower.

Why do I need a guarantor?

You need a guarantor so we have assurance that the loan will be repaid if you default.

Do I need one or two guarantors to get a loan?

The number of guarantors needed depends on the amount of the loan requested. For example, emergency loans, up to $5,000, require one guarantor. For a $10,000 loan, you need two guarantors.

Check individual loans for specific guidelines.

What are the guarantor requirements?

  • good credit and steady income
  • Be 25 years+ and live in California
  • Have no current activity with the JFLA as borrower or guarantor.
  • Be willing and able to repay the loan if the borrower defaults.
  • not be on active military duty.

Can married guarantors each sign as a separate guarantor?

No. A married couple is considered one guarantor.

If you are legally separated from your spouse, and have two separate tax returns, then you can be regarded as two individual guarantors.

Can my wife or husband guarantee me?

No. Since a married couple is considered one borrower, a spouse cannot guarantee a loan for the other spouse.

Can my guarantors sign on two different loans?

No, we do not allow guarantors to sign on two different loan applications.

There is one exception to this rule when parents, with good credit and steady income, want to guarantee loans for two of their children.

The Process

How has the process changed during the Covid-19 pandemic?

The entire loan process is electronic. You can apply on line, upload documents, email with our team, interview by Skype, and receive your loan through direct deposit.

How long does it take?

48 hours to one week in most cases. It depends on how quickly you submit all materials.

All loan requests are subject to approval. Loans are not pre-approved or guaranteed.

How long is the Skype interview?

All interviews are being done via Skype or Facetime and last about 20 minutes.

What do I need to have for my interview?

Identification
California ID Driver’s license, state issued ID
Social security card Social security card or statement with social security number
Proof of income Pay stub, bank statement
Proof of rent Lease, cancelled check, bank statement
Proof of need for loan Estimate, proof of enrollment, three-day notice, past-due bill

When do I start to repay my loan?

Repayments start 30-45 days after the loan is approved.

How do I repay my loan?

You can repay your loan by check, money order, or through an auto-deduct checking account.

Can I renew my loan before I pay it off?

No.

Student loans are renewable, so check the dates with a member of our team for your case.

Once I repay my loan, can I get another loan?

Yes, after a one-month waiting period, you may apply for another loan.

How can I sign up for automatic deduction on my checking account?

Download the Auto Deduction form and follow the directions.

>$80M
Loaned
>28,300
Loans Made
~1,000
New Loans a Year