April 14, 2020

HFLS Coronavirus Financial Impact Loan Program

The Hebrew Free Loan Society’s Coronavirus Financial Impact Loan Program provides interest-free loans of $2,000-$5,000 to residents of New York City’s five boroughs, Westchester, or Long Island who are facing financial challenges caused by the Coronavirus outbreak. These loans are intended to address:

  • Lost wages due to being unable to go to work

  • Child care costs due to school closures

  • Small business losses

  • Related medical costs

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 84,065 96,025 107,785 119,945 129,605 139,150 148,810 158,355

Coronavirus Financial Impact Loans are repayable in 20 monthly installments, so your monthly repayment amount depends on the amount of your loan. (A loan of $2,000 = repayments of $100/month, and a loan of $5,000 = repayments of $250/month.)

Repayments will begin in July 2020 and will be made by electronic debit of your checking account. Before your loan is disbursed, you will choose whether to have repayments deducted from your checking account on either the 5th or the 20th of each month starting in July 2020.

One guarantor is required for all loans.

Click here for more information and to apply.

If you have any questions please contact Natalie Vichnevsky.