Temporary Protected Status (TPS) Renewal Loans

Eligibility

To qualify for a TPS Renewal Loan, you must meet the following requirements:

• Be a client referred by Simpson Thacher & Bartlett LLP.
• Reside in New York City’s five boroughs, Westchester, or Long Island.
• Have annual household income sufficient to support loan repayment and no higher than the HFLS income limits posted at HFLS.org/How-to-Apply. 
• Have an active checking account. If you do not have a US checking account and would like to open one, please click here for information about how Apple Bank can assist you with opening a US checking account.

You may apply for separate TPS Renewal Loans for yourself, your spouse, and/or your dependents. The application requires that you enter the name of the beneficiary (the person whose renewal fee will be covered by the loan). If you are applying for a loan to cover your own renewal fee, please enter your name in the beneficiary field.

Loan Amounts & Repayment Terms

Your loan amount will depend on the fee associated with your TPS and work permit renewal; your attorney will inform you of which loan amount to select in the application form. The options are:

• $410 – TPS and work permit renewal for individuals under age 14
• $85 – TPS renewal only for individuals age 14+
• $495 – TPS and work permit renewal for individuals age 14+

You will select  their preferred repayment term — five months or ten months — in the application. 

HFLS will withdraw monthly repayments directly from a borrower’s designated checking account via electronic debit (ACH) on the 5th or the 20th of each month. You will select your preferred repayment date during the loan process. Repayments will begin approximately one month after the loan is disbursed.

Application Process

Clients referred for a TPS Renewal Loan must complete the online application available at the link in the “Apply Now” section below.

Upon submission of an application, your attorney contact will provide confirmation your referral and loan amount to HFLS. The loan amount must match your TPS and work authorization renewal fee.

Upon receiving confirmation from the attorney, HFLS will review the application and contact you to schedule a 15-minute loan interview by phone, during which a Loan Officer will raise any questions, explain the remainder of the loan process and your obligations as a borrower, and answer your questions.

HFLS will then approve or deny the loan. If the loan is denied, you will receive an email from HFLS noting the reason for the denial. If the loan is approved, HFLS will proceed with the steps below.

Loan Closing and Disbursement

After a loan is approved, HFLS will send the following loan closing documents to you for electronic signature. You will electronically complete and sign the forms where indicated:

• Promissory Note (the legal document a borrower signs to agree to the loan terms and receive the loan), accompanied by a Disclosures document (laying out the key loan terms). 
• ACH Form (to authorize HFLS to automatically withdraw loan repayments from your checking account in accordance with the repayment schedule in the Promissory Note and Disclosures document).

Within two business days of receiving the completed and signed Promissory Note and ACH Form, HFLS will disburse the approved loan amount directly into your checking account via electronic debit (ACH). The funds should appear in your account within two business days.