1. Who can apply for a loan with HFLA?

Applicants must be Jewish and reside in the Greater Springfield Area (Hampden, Hampshire or Franklin counties)

2. Do I need a cosigner?

Yes. Loans of $3600 require one cosigner, loans from $3600-$7200 require two cosigners. A spouse may not cosign a loan. Consigner’s information may be sent separately as to insure privacy and confidentiality.  See details

3. What documents must be submitted? 

Applicants must fill out an application and provide a credit report and current Federal tax return.

4. Do I need to be interviewed?

Yes. After your documents have been reviewed, an interview with two HFLA Board Members is required.

5. When must the loan be paid back?

Monthly payments can span a period of up to 36 months beginning one month after the disbursement date.

6. How to apply for a loan?

  • Please understand to receive a loan from our organization, an applicant must identify themselves as Jewish and live in the Great Springfield area.
  • We require one co-signer for loans up to $3600; for amounts over that and up to $7200, we require two co-signers. Co-signers should live within a 60 mile radius of Springfield. MA. All information is strictly confidential. Consigner’s information may be sent separately as to insure privacy and confidentiality.

The following forms are necessary for an application to be complete and reviewed:

  • Applicant and Cosigner’s HFLA Applications (may be downloaded from HFLA website)
  • Federal Tax Return for both Applicant and Cosigner(s)
  • Credit Report for both Applicant and Cosigner(s)

To request a credit report, you may contact any of the following:

  • Equifax: 1-800-685-1111; www.equifax.com
  • Experian: 1-888-397-3742; www.experian.com
  • Credit Data Services: 413-736-4511 (this company has recently merged with Experian)
  • TransUnion: 1-800-888-4213; www.transunion.com

Once all forms are complete and sent to the HFLA office, the information will be reviewed and a call will be made to the applicant for an interview with HFLA Board members. The cosigner(s) need to be present with the applicant when the loan money is disbursed and the Promissory Notes signed.

Once the loan is received, the recipient will begin paying back the loan on a monthly basis for up to three years (36 months).

Please do not hesitate to call if you have any further questions.