Click the arrows to find out more about each type of loan
Loans meant for personal purposes such as debt consolidation, dental/medical procedures, financing a wedding or bar/bat mitzvah, and buying a new vehicle.
Monthly repayment of $25 per $1,000 borrowed, via preauthorized debit. For a $7,000 loan, a borrower is required to pay $175 per month for 40 months.
Designed to make repayment of loans less onerous by having a reduced repayment schedule during the course of study. Students must reapply each year, although the full interview process may not be necessary.
Monthly repayment of $50 on the first loan, and $100 per month on all subsequent loans. Six months after studies are completed, repayment increases to monthly installments of $25 per $1,000 on any outstanding balance.
Note: For students requiring more than $3,000, a one time $10,000 maximum loan is available. This loan has a repayment schedule in line with regular HFLA loans, requiring $250 per month, with repayment beginning the month following disbursement of the cheque.
New Business Loans are for new businesses ONLY. We cannot finance existing businesses. New business applications must include:
1) A business plan with relevant permits/licenses;
2) Tax returns for two previous years (personal or related business);
3) Forecast financial information; and
4) Other information as requested by an interviewing director.
Special Purpose Loans will be granted on a case-by-case basis. Some previously accepted special purposes include adoption and fertility treatment costs.
Monthly repayment of $25 per $1,000 borrowed, via preauthorized debit. For a $10,000 loan, a borrower is required to pay $250 per month for 40 months.
Meant to help those with personal and/or family emergency situations. Emergency loans have a faster repayment schedule than our other loans.
Monthly repayment of $100, via preauthorized debit. For a $1,500 loan, a borrower is required to pay $100 per month for 15 months.