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FREE LOAN APPLICATION PROCESS


1. Review full guidelines and eligibility requirements below.

 

2. Fill out your application and Co-Signer application (2 for loans $2001-$4000) or contact Ben at 503-892-7417 to have an application mailed to you. You may also direct download and print the Borrower and Co-Signer applications.

3. Provide required documents (complete application and proof of income from both Borrower and Co-signer) by:

Mail

Jewish Free Loan
c/o: Jewish Federation of Greater Portland
6680 SW Capitol Hwy
Portland, OR 97219

Fax

503.245.6603

4. After credit checks are completed on the Borrower and Co-signer, you will meet members of the Loan Committee for an in-person interview.

5. After all documentation is received and interview is complete, you will receive notification of your loan status.

 

6. If approved, you will complete and return the following to receive your loan check:

APPLICANTS MUST:

Identify as Jewish

Be 18 years of age or older

have a co-signer (2 for loans $2001-$4000)

Have lived in Oregon or SW Washington area for at least 6 months

LOAN DETAILS:

loans are available for up to $4000

Applicants may apply for loans up to $4000 interest free.

Loans are available for life's "ups and downs"

e.g. camp or school tuition, Israel experience, car repair, medical expense, housing assistance, etc. Loans should be made for a worthwhile or legitimate purpose.

Borrowers are required to provide a Guarantor/Co-signer for loan

A spouse is a co-borrower but does not satisfy the requirement for a co-signer.

1 co-signer for loans up to $2000; 2 co-signers for loans up to $2001-$4000

Two co-singers on loans over $2001 cannot be married to each other.

Proof of employment/income sources(s)

Borrower and co-singer are required to provide proof of employment/income sources(s).

Subject to secure credit check

Borrower and co-signer are both subject to secure credit check run by the Jewish Federation.

An in-person interview with Loan Committee

An in-person interview with Loan Committee must be conducted in timely fashion as part of the approval process.

Confidential

Loan process & application materials are kept confidential.

REPAYMENT DETAILS:

Loans are to be re-paid by Borrower over time frame determined by loan committee, not to exceed 336 months.

Loan repayment shall be made by automatic debit/credit charge of ACH (automatic withdrawals from checking or savings account).

Failure to make timely payments may result in full payment being required before the next scheduled payment date.

Co-singer will be required to repay the loan if Borrower fails to do so.

Questions? Contact us at FreeLoan@jewishportland.org or 503-892-7417.