Access Loans for JCCA Employees – SUSPENDED
Loans of up to $2,000 for employees of the Jewish Child Care Association (JCCA).
Loans of up to $2,000 for employees of the Jewish Child Care Association (JCCA).
JCCA Access Loan Program Overview NOTE: This program is currently suspended due to the COVID-19 pandemic.
All JCCA employees are encouraged to apply for an interest-free Coronavirus Financial Impact Loan, which offers between $2,000 and $5,000 with one guarantor required and no repayments until July 2020. Please visit HFLS.org/Coronavirus for more information and to apply.
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The JCCA has partnered with the Hebrew Free Loan Society (HFLS) to pilot a program of interest-free, no-fee loans for employees in need of affordable, convenient cash assistance.
The Access Loan Program provides interest-free loans of between $500 and $2,000 to current JCCA employees who meet the following criteria:
HFLS Income Limits
| Household Size | 1 person | 2 person | 3 person | 4 person | 5 person | 6 person | 7 person | 8 person |
| Household Income | 85,980 | 98,180 | 110,470 | 122,690 | 132,540 | 142,385 | 152,160 | 162,005 |
Employees may use Access Loans for any purpose; there are no restrictions on how the funds may be used.
Employees will make affordable bi-weekly repayments in installments timed in coordination with their pay periods. (See “Repayments” below for more information.)
Employees will apply directly to HFLS by completing a short online loan application, which can be accessed by clicking on the “Apply Now” link above.
Upon receiving your application, an HFLS Loan Officer will request verification from the JCCA that you are an employee who meets the criteria listed in the Overview section above.
Once the JCCA verifies your eligibility, you will receive a DocuSign email from HFLS containing instructions to digitally complete and sign your promissory note and ACH form.
Once you have submitted the signed promissory note and ACH form through DocuSign, HFLS will electronically disburse your loan funds directly into your checking account within three business days. (Please note that it may take several days for the loan funds to appear in your bank account.)
Borrowers will repay loans in equal installments timed to coincide with their bi-weekly pay. Loan repayments will begin on the pay date that falls two to four weeks after you receive the loan funds. No fees or interest will be charged for these loans; you will repay only the amount you borrowed.
Repayment amounts range from $50 to $125 per pay period, with the amount based on your gross annual income (as confirmed by the JCCA) and the loan amount requested. The repayment amount will be no more than 7% of your gross paycheck (excluding overtime). If, for example, you earn $35,000 and your bi-weekly gross income is $1,346, your maximum repayment amount would be less than $95 per pay period. Most loans will be fully repaid within one year.
Once you have finished repaying your loan, HFLS will send you an email confirming that your loan has been fully repaid.
You will receive two very brief online surveys from HFLS during the course of repaying your loan. The surveys will be sent to you
We strongly encourage you to complete these three-minute surveys, as they will help HFLS obtain the necessary funding to keep this program running and improve the Access Loan Program for you and your colleagues.
There is no limit on the number of loans an employee may take; however, any balance on an outstanding loan must be paid before the employee can qualify for another loan in this program or any other HFLS loan program. Borrowers who fail to fully repay their loans will be barred from taking additional loans.
If you have any questions about Access Loans, please contact HFLS at 212-687-0188 or Loan@HFLS.org.
If you need more than $2,000, you may apply for a loan in another HFLS loan program. Click here to view a list of all HFLS loan programs; simply click on a program to view more information. Please note that other HFLS loan programs have different requirements than the Access Loan Program.
