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How
It Works
 (The
Application Process)
• Please
visit us to request a loan application or to download and print
a pdf application, click
here now >>
• Upon
completion, return your fully completed application to:
By Mail:
Hebrew Free Loan Association
305 - 1985 West Broadway
Vancouver, BC V6J 4Y3
By Fax:
604-648-8642
By Email:
info [ @ ] hfla.ca
• After
submitting the application, an appointment will be set up for
you to meet in person with a Director of the Hebrew Free Loan
Association to review your application.
• Your
guarantors will be contacted to confirm their eligibility as guarantors.
• The
application will then be presented to the HFLA Board of Directors
which meets once to twice each month.
• Once
the loan is approved, you will sign a Promissory Note committing
to repay the loan.
• The
guarantor(s) will sign legally binding Guarantees committing to
repay the loan should you, the borrower, fail to do so.
• Upon
completion of the paperwork, a cheque will be prepared for you.
• Upon
issuance of the loan proceeds, we require post-dated cheques to
cover loan payments.
• Borrowers
begin making payments within 30 days after receiving their loan.
• All loans must be repaid in full not more than 40 months
after the loan is received. Payments are $25 per month, per $1,000
borrowed. For example: $3,000 loan requires monthly payments of
$75
$1,000
loan requires monthly payments of $25
$2,000 loan requires monthly payments of $50
$3,000 loan requires monthly payments of $75
$4,000 loan requires monthly payments of $100
$5,000 loan requires monthly payments of $125
$7,000 loan requires monthly payments of $175
• Exception: Loans for recurring purposes (annual tuition,
campership, school uniforms) must be repaid within 12 months.
•
Loan Types >>
top >>
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©
2009 - 2011 • The Hebrew Free Loan Association of Vancouver
• All Rights Reserved
305
- 1985 West Broadway, Vancouver, BC V6J 4Y3
Tel: 604-639-1400 • Fax: 604-648-8642
Email: info
[ @ ] hfla.ca
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by:
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