Health Care Loan Overview


The Health Care Loan Program provides interest-free loans of up to $10,000 to low- and moderate-income residents of New York City’s five boroughs, Westchester, or Long Island to help fund medical, dental, and other health-related expenses that borrowers cannot meet with their own resources.

Loan applicants must have annual pre-tax household income at or below the income limits for their household size.

HFLS Income Limits

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

Loans are repayable in installments of $250 per month over up to 40 months.

Health Care Loans have a grace period of three months before repayments begin. Repayments will be made on either the 5th or the 20th of each month; you will select your preference before HFLS disburses your loan. All loan repayments are made by electronic debit of a checking account.

Guarantor Information

Two guarantors are required for all loans, and both guarantors must complete and sign Guarantor Forms. A married couple is considered one guarantor. If a guarantor is married, his or her spouse must also complete and sign the Guarantor Form.  

Each guarantor is “jointly” and “severally” liable for the loan in the event you are unable to pay for any reason. This means that, while HFLS would expect each guarantor to share equally in the responsibility of repaying the loan, each is legally liable for the full amount, and any one guarantor could be called upon to repay the balance due.

Guarantors must meet the following criteria:

  • US citizens or legal residents currently living in NYC’s five boroughs, Westchester, or Long Island
  • Have a checking account, good credit, and total family income of at least $50,000 a year
  • Currently employed (HFLS prefers persons who have worked at least one year in their present position)

Even if they meet the requirements above, the following people may not guarantee a loan:

  • Persons living in the same household as the borrower
  • Persons who currently have an HFLS loan or are a guarantor on an HFLS loan
  • Pulpit Clergy (clergy are often asked to guarantee due to their high visibility within their community; this rule, therefore, exists for their own protection)
  • Persons who are unable to repay the loan

Loan Documents & Interview

The documents below are required for a Health Care Loan. Once you have completed or collected all the documents below and have all necessary signatures, contact the HFLS office at Loan@HFLS.org to schedule a loan interview, which will be conducted via phone or video (Zoom) call. Please submit the following documents to Loan@HFLS.org prior to your loan interview.

From the borrower:

  • Loan Application, completed and signed by the borrower (and their spouse, if they are married). (Download the Application Form at the bottom of this page.)
  • Documentation that specifies the health care need and cost, e.g. a recent (no more than one year old) invoice, bill, proof of recent payment, or very recent (no more than one month old) letter from the doctor, dentist, or health care facility.
  • Copies of government-issued photo IDs that include signatures and serve as proof of address for the borrower and their spouse (e.g. driver’s license). If the driver’s license does not include the borrower’s current address, HFLS will require proof of residency (e.g. a utility bill or account statement).
  • Voided check, checking account statement, or bank document that includes the borrower’s name, checking account number, and routing number.

From the guarantors (guarantors may choose to send these documents directly to HFLS):

  • Guarantor Forms, completed and signed by the guarantors and their spouses, if they are married. (Download the Guarantor Forms at the bottom of this page.)
  • Copies of government-issued photo IDs that include signatures for the guarantors and their spouses, if they are married (e.g. driver’s license or U.S. passport).

Failure to submit these documents will delay the processing of your application. 

Once you have collected all the documents above, please email Loan@HFLS.org to schedule your 10-15 minute loan interview with an HFLS Loan Officer, which will be conducted by phone or video call (Zoom). Loan interviews must be scheduled in advance and can take place Mondays through Thursdays between 9 am and 5 pm.

Please submit the documents listed above to HFLS prior to the loan interview to avoid delays in processing your application.

During the loan interview, an HFLS Loan Officer will review your application and other required documents with you, ask any relevant questions, determine whether any additional information is needed, and answer any questions you have about HFLS and the rest of the loan application process (described below).

Loan Decisions & Closing

HFLS reviews and decides on loan applications weekly. If we have questions about your application or guarantor, you may receive a call or email from a Loan Officer asking for further information before HFLS will make its decision.

You will receive information via email within approximately one week of your loan interview advising you whether your loan has been approved, and if so, providing final loan documents for you to sign via email or DocuSign. HFLS, in its discretion, may decline to make a loan, make a loan in an amount less than that requested, or require different or additional guarantors.

If your loan is approved, the email you receive will contain instructions to complete the final loan paperwork via DocuSign or email. The final loan paperwork includes:

  • A Promissory Note, to be signed by the borrower, guarantors, and all spouses
  • An Authorization of Automatic Payments (ACH) form, so monthly loan payments can be withdrawn automatically from your checking account.

Once HFLS receives the signed documents above, we will disburse your loan funds directly into your checking account within three business days. (Please note that it may take a few days after the disbursement for the loan funds to appear in your checking account.)

Required Forms Download