No, you do not have to be Jewish to apply for a JFLC loan. We do not ask questions about religious identity or cultural background in our loan application.

• Eligibility depends on the type of loan you are applying for. In general, borrowers must be at least 18 years old, live in the Chicagoland area, meet income guidelines, and have a qualified guarantor.

• Each loan program has its own requirements. Learn more about our loan programs and eligibility requirements here: [https://jflchicago.org/apply].

Personal loans can be up to $7,500. Small business loans can be up to $20,000.

A JFLC loan is a “free loan” in the sense that it is free of interest and fees.

JFLC is a relationship-oriented nonprofit lender. People are at the core of our mission, not profit.

No, a JFLC loan is not the same as a cash grant. If your loan is approved, you will sign a loan agreement detailing a repayment plan with the expectation that the loan will be repaid.

To qualify for a JFLC small business loan, your business must have been operating for at least four months, be located in Cook County, and the business owner must meet income requirements.

Learn more about JFLC small business loans and eligibility requirements here [hyperlink]

JFLC loans can be used to cover a variety of expenses. These may include expenses such as:

• General needs (housing, transportation, technology, and debt consolidation)

• Employment (job search, job training, initial costs (transportation/relocation))

• Healthcare (medical, mental, and dental)

• Women and children (childcare, education, fertility, and adoption)

• Legal fees (immigration, discrimination)

• Education (tuition, supplies)

• A guarantor is someone who agrees to repay the loan if the borrower is unable or unwilling to do so.

• For personal loans, the guarantor must be a person other than the applicant (and cannot be a spouse). Jewish Free Loan Chicago conducts a soft credit check on guarantors.

• For small business loans, applicants may qualify in one of two ways:

• Provide an eligible guarantor with at least $50,000 in annual income and a minimum credit score of 700, or

• Provide a character reference from a trusted business advisor in place of a personal guarantor.

• The timeline depends on how quickly we receive all documents and application details.

• Applications with complete information, including a qualified guarantor, are typically processed within a week.

• If you have questions about your application status, please email us at info@jflchicago.org. 

1. Submit an application: You complete the online application and respond via email with any followup questions.

2. Guarantor review: Your guarantor authorizes JFLC to check their credit history. (Note: this is a soft credit check.) For personal loans, the minimum score is 670. For small business loans, the minimum score is 700.

3. Application review: JFLC staff reviews your application and shares it with the Loan Committee.

4. Interview: You and your guarantor meet with members of the Loan Committee for a 30-45 minute virtual interview.

5. Loan decision: The Loan Committee reviews your application and determines if the loan is approved.

6. Finalize your loan: If approved, you sign closing loan documents. Your loan is then disbursed to your bank account.

No, a guarantor is required to apply for a personal loan.

A guarantor can be a friend or family member (outside of your household). Your guarantor should know you to be a responsible person. We frequently hear how identifying a guarantor is easier than our applicants initially imagine. Guarantors often feel honored that they are able to do a good deed for someone in their life.

We ask that both you and your guarantor provide a valid government-issued photo ID.

Interviews are conducted virtually at a mutually agreed upon time.

Yes. Spanish application forms are available upon request. Please email us at info@jflchicago.org to receive a Spanish version of the application.

Yes, we can provide a translator for the loan interview.

Repayments range from 10-30 months (personal loans) or up to 36 months (small business loans) 

• Borrowers make monthly payments throughout the loan term. Your exact payment amount is dependent on the size of your loan. The due date will be outlined in your loan agreement. All payments to JFLC are processed as debits to your bank account.

• If you are unable to make a payment, please contact JFLC as soon as possible. We understand that circumstances can change and will work with you to discuss your options and next steps.

Borrowers may receive a maximum of two loans from JFLC. A borrower may apply for a second loan from JFLC once they have fully repaid their first loan and remain in good standing with the organization.