Hebrew Benevolent Loan Association
Simply put, HBLA’s goal is to help people help themselves by making interest-free loans. Zero interest. Ever. We offer a hand up, not a handout, to help fellow Jews in Western New York meet life’s challenges.
We’re Here to Help… as we have been for more than 4 generations.
If you are… a prospective borrower or know someone who might be, interested in making a contribution or becoming a member, or curious about what we do, then you’ve come to the right place.
About Hebrew Benevolent Loan Association
The Hebrew Benevolent Loan Association (HBLA) is Western New York’s Jewish Free Loan Society, a non-profit organization with an old-fashioned sounding name, yet a mission as timely today as it was when the HBLA was founded more than a century ago. We loan money, interest-free, to Jewish residents of Western New York to help meet life’s needs. HBLA’s funds come from membership dues, donations, and interest from investments made on behalf of HBLA. Our funds are managed professionally by the Foundation for Jewish Philanthropies.
Apply for a loan
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Instructions for Personal Loan
Qualifications
- Borrowers must be Jewish and a resident of one of the following eight counties in Western New York: Erie, Niagara, Genesee, Allegany, Cattaraugus, Chautauqua, Wyoming and Orleans
- Cosigner must be a resident of one of the following eight counties in Western New York: Erie, Niagara, Genesee, Allegany, Cattaraugus, Chautauqua, Wyoming and Orleans
- Maximum loan available is $5,000
- The number of cosigners depends upon the amount of money being borrowed:
- Up to $1,000 No cosigner is required
- $1,001 – $2,500 1 cosigner is required
- $2,501 – $5,000 1 cosigner is required (in some cases, 2 cosigners)
- Credit reports on borrowers and cosigners will be obtained by the HBLA
Required Documents
- Completed Loan Application which includes a signed consent to obtain a credit report
- Mailing hard copies of your most recent federal income tax return, proof of current income, and a copy of your government issued photo ID
- Completed Cosigner Information Form (if required)
Ready to apply?
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Loan Repayment
Cosigner Information and Requirements
It is the responsibility of each loan applicant to obtain the required number of cosigners for the loan being requested and to ask each cosigner to complete a Cosigner Information Form and sign a Cosigner Repayment Form.
- Cosigner(s) must be a resident of one of the following eight counties in Western New York: Erie, Niagara, Genesee, Allegany, Cattaraugus, Chautauqua, Wyoming and Orleans and at least 18 years of age
- Cosigner(s) are expected to have a verifiable source of income, sufficient to repay the loan in case of default
- An applicant’s spouse cannot be a cosigner
- Rabbis are not eligible to be cosigners, except for immediate family members
- Only one member of a married couple can be a cosigner
- Credit reports on cosigners will be obtained by the HBLA
- Copy of government issued photo ID must be provided
Borrowers and cosigners are individually and collectively liable for repayment of the full amount of the loan or any balance. Please advise any potential cosigner of this legal responsibility when asking them to cosign your loan.
Loan Process
- Submit completed Loan Application and all required documents
- Submit Cosigner Form (if required)
- Confidential interview, scheduled at your convenience
- Review loan terms and sign Promissory Note
- Cosigner signs a Cosigner Repayment Form (if required)
Please have your cosigner fill out this form.
Questions?
The Foundation for Jewish Philanthropies would be honored to assist you and your family in preserving your legacy through the education of future generations.