In order to qualify for an HFLA loan, an applicant must be:
2) A Canadian citizen/permanent resident
3) Able to show financial ability to repay the loan
4) At least 19 years old* (inquire about student loans)
For loans UP TO $5,000, applicants must have one qualified Jewish guarantor.
For loans GREATER THAN $5,000, applicants must have two qualified guarantors, one of whom must be Jewish.
For ALL student loans, applicants must have two qualified guarantors, one of whom must be Jewish.
Loans will be processed once ALL forms (loan, guarantor(s) and budget) are completed and submitted.
In order to act as guarantor one must:
1) Reside in BC and be a Canadian citizen/permanent resident
2) Be at least 19 years old
3) Demonstrate financial ability to repay the applicant’s loan in the event of a default
4) Not have legally joint finances (spouses may not act as guarantor for each other)
All prospective guarantors are required to complete the Guarantor Application Form and speak to an HFLA director.