Step 1: Determine whether you are eligible for an HFLS loan.

To qualify for an HFLS loan, you must live in NYC’s five boroughs, Westchester, or Long Island; have low to moderate annual household income; and locate two qualified guarantors. Some loan programs have additional requirements; each loan program page describes the specific requirements for that loan.

Your household income must be at or below the amount listed below for your household size. The amounts below are the moderate-income limits for households in the NYC area, based on the Department of Housing and Urban Development’s guidelines.

To determine whether you qualify for an HFLS loan, locate your household size in the chart below. If your pre-tax annual household income is at or below the amount listed for your household size, you are eligible to apply for an HFLS loan. If your annual household income exceeds this amount and you have significant need of an interest-free loan, please contact HFLS at (212) 687-0188 or to discuss whether you qualify for a loan based on your specific situation.

Household Size 1 person 2 person 3 person 4 person 5 person 6 person 7 person 8 person
Household Income 85,890 98,180 110,470 122,690 132,540 142,385 152,160 162,005

Guarantors must live in NYC’s five boroughs, Westchester, or Long Island; have minimum household income at or above the amount required for the loan program you’re applying for (noted on each loan program page); and have good credit, in that they are meeting their current debt obligations. A married couple is considered one guarantor, and spouses must sign guarantor forms and the promissory note.

Step 2: Find the HFLS loan that’s right for you.

HFLS offers interest-free loans to meet emergency, health, education, business, and other needs.
Click here to view the different loans we offer and select the one that’s right for you. Each loan program page describes the application requirements for that loan, and you can download application and guarantor forms right from that page.

Step 3: Complete the application form for your loan, and send the guarantor forms to your guarantors.

Application and guarantor forms can be downloaded from each loan program page. Please be sure to answer all questions on the forms and write clearly. Please note that, if you are married, your spouse must complete and sign the application form; and if your guarantors are married, their spouses must complete and sign the guarantor forms. Your guarantors can send their completed and signed forms directly to HFLS, or return them to you. It is helpful, though not required, for your guarantors to submit their completed and signed guarantor forms prior to your loan interview. See Step 4 below for more information about the loan interview.

Step 4: Schedule an in-person loan interview and prepare the required documents to bring with you.

All loans require the following documents: A completed and signed application form; completed and signed guarantor forms; copies of IDs that include a signature for applicants, their spouses, their guarantors, and their guarantors’ spouses; and a voided check from the applicant.

Each loan program page contains information about whether any additional documents are required for that loan program.

You can select the location of your interview: At our Manhattan office (675 Third Ave at 42nd Street), where we conduct loan interviews from 9-5 on Mondays through Fridays, or at the Shorefront Y or Jewish Community House of Bensonhurst in Brooklyn, where we have loan interviews in the evenings once a month.

Each loan program page includes information about the required documents for that loan. Additional required documents may include: a completed Financial Aid Officer Assessment Form (for Undergraduate and Graduate Loans), invoices or proof of payment (for Fertility Treatment and Adoption loans), or other documents as indicated on each loan program page.

Loan approval and closing.

You will hear from a Loan Officer within one week if we require additional information to process your loan, and you will hear within two weeks by email or mail (your choice) whether your loan is approved or denied.

HFLS will mail or email the loan closing forms to you with instructions for completion as soon as your loan is approved. The loan closing forms include: 1) a Promissory Note, to be signed by you, your spouse (if you’re married), and your guarantors (and their spouses, if they’re married); and 2) an authorization for automatic payments form, signed by you (and your spouse, if you’re married). Once HFLS receives the loan closing forms, we will process your check and mail it to you, or you can contact the HFLS office to schedule a time to pick up the check.

Loan repayments are made monthly, and they begin approximately 4-6 weeks after the loan check is mailed to you; the Promissory Note will include the first loan payment date. On the Authorization for Automatic Payments form, you will choose whether you’d like to make repayments on the 5th or 20th of each month. Your repayments will be automatically withdrawn from your checking account on that date every month.

True stories, made possible through lending.

HFLS loans have helped New Yorkers stabilize their financial lives, support their families, and achieve their dreams.

Read Stories