Loans Available The Loan Process Basic Loan Requirements Specific Loan Requirements

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(You might have questions after reading these general guidelines).  Call Anne or Wendi, our Client Services Coordinators at (602) 230-7983 for further assistance.

Please call us.  We can help you determine if you might be eligible for one of our loans!!

All loans must have Guarantors.  For loans up to $2,500, 1 Guarantor is required; for loans from $2,500 to $5,000, 2 Guarantors are required; and for loans from $5,000 to $10,000, 3 Guarantors are required.  Guarantors must have credit ratings of at least 700.

GENERAL GUIDELINES  (that apply to all loan types)

•  Borrower must be Jewish
•  Guarantor must be Jewish
•  Borrower and Guarantor(s) must be Arizona residents
•  Borrower must be at least 18 years of age
•  Borrower must show evidence of the ability to repay the loan
•  Guarantor(s) must show evidence of the ability to repay the loan
•  Borrower's spouse must be a co-maker of the loan
•  Spouse or partner cannot be a guarantor for a loan
•  Credit reports will be obtained for all borrowers and guarantors
•  A promissory note must be signed by borrower, spouse and all guarantors
•  Proof of identification. is reaquired from the borrower and guarantor(s)
•  Borrower or spouse must not currently be a guarantor on another loan
•  Guarantor(s) are individually and jointly responsible and liable for the full amount of unpaid loan balance
•  If borrowing for a second time, previous loan must be paid in full with the exception of student loans and adoptions
•  Guarantor may not be a Rabbi, Cantor, Director of a Jewish Institution, or anyone whose position depends on the goodwll of the community
•  A Rabbi may, however, use discretionary funds to guarantee a loan
•  Jewish community professionals may serve as guarantors in a personal capacity, and never in a professional capacity
•  Board members and JFL staff  can not apply for loans or act as guarantors but may provide cash collateral for a loan
•  Borrowers are limited to no more than two loans within a seven year period as long as the first loan is paid in full and payments were made in a timely manner.  Exceptions for more than two loans are adoptions, education and Jewish continuity as long as the borrower is making timely and complete payments per the promissory note for the life of the loan.  After three loans, the Loan Policy and Review Committee will be consulted.
•  All payments begin one month from date the loan is issued