Hebrew Free Loan of NJ

We Are Here to Help

The Hebrew Free Loan of NJ has its roots in two biblical values:

The highest form of charity is to help someone in need to become self-sufficient.

and

“If you lend money to my people, to the poor among you, do not act towards them as a creditor; exact no interest from them.”
- Exodus 22:24

Hebrew Free Loan organizations exist in the United States and around the world. Hebrew Free Loan of MetroWest has served this community since 1996.

In 2007, the Hebrew Free Loan of MetroWest changed its name to the Hebrew Free Loan of NJ and expanded its reach to help those in need in the Bergen, Passaic and Greater Monmouth Jewish communities.

Who is eligible for a loan?

An applicant should be a member of the Jewish community of MetroWest (Essex, Morris and parts of Union Counties); or Passaic and Bergen Counties; or Monmouth County.

For what purposes are loans given?

Loans are provided for many purposes with the one exception being student loans.

Examples of typical loans are:

  • Emergencies
  • Medical Expenses
  • Debt Consolidation
  • Home Improvement or Repair
  • Adoption Costs
  • Domestic Violence Legal Assistance
  • Starting or Expanding a Business

How much can be borrowed?

Loan amounts are set annual by the Board of Hebrew Free Loan. 

What are the other requirements?

Borrowers must have the potential to repay the loan and will need to provide post dated checks in the full amount. Each loan must have at least one cosigner (two for home improvement and business loans), and the cosigner must live in New Jersey. The cosigner will become responsible for the loan repayment in the unlikely event that the borrower cannot meet his obligation.

What about confidentiality?

HFL of NJ holds the highest standard of confidentiality. The loan is not a public record, but there are rare instances where a legal process may be used to recover unpaid balances.

It only takes a simple phone call to start the process.

MetroWest Residents • 973-765-9050

Passaic and Bergen County Residents • 973-595-0111

Monmouth County • 732-774-2990

or by e-mail to hflnj@jfsmetrowest.org

 

“A loan is better than charity, for it enables one to help oneself.”