Two of our Board Members, Stuart Sharpe and Kevin Adelstein, are quoted in this Cleveland Jewish News article on working with baby boomer volunteers. Volunteering for the Hebrew Free Loan Association is a satisfying way to serve your community. Unlike many larger organizations, you work directly with the people that the organization is assisting.

If you are interested in performing the highest form of charity, providing an interest-free loan so worthy individuals may help themselves, then please get in touch.

Our latest newsletter announces Samuel H. Miller, co-chairman of the board and treasurer at Forest City Enterprises, as 2011 Person of the Year. He will be honored in our Annual Golf & Tennis Throwdown on June 20, 2011.

For this story and a recap of our latest loans and donors, view the December 2010 HFLA Newsletter (pdf).

Check out the September 2010 Newsletter (pdf). It covers the 2010 Golf Outing, the latest loans, and other happenings at the HFLA. 

On Monday, June 21, the Hebrew Free Loan Association of Cleveland honored Beachwood mayor Merle Gorden as HFLA's 2010 Man of the Year.  A Beachwood resident for over 50 years, and mayor of Beachwood for four consecutive terms, Merle Gorden is truly a community icon.  Active in local government for many years, Merle Gorden has held the post of council president, council member, democratic ward leader, served on various boards and commissions, as well as served on the board of numerous community and civic organizations and county committees.

88 golfers hit the links and 15 tennis players joined the fun at Canterbury Golf Club to support a respected community leader and important community organization.  In addition to the participants, 25 corporate sponsors made the afternoon possible.  140 dinner guests enjoyed food and fun at an after-event reception and silent auction.



 
The Hebrew Free Loan Association makes interest free loans to Northeast Ohioans regardless of religion, race or ethnicity.  Loans are granted to people who demonstrate a genuine need to help with expenses for family, home, education, business or medical/dental needs. So far this year, the HFLA has made loans totaling more than $60,000.  HFLA is a 501(c)3 organization.  For more information, visit www.hflaclev.org

On Monday, June 21, join us in a fun-filled day of golf, tennis and socializing as we honor Mayor Gorden as HFLA's 2010 Man of the Year! In addition to supporting both a respected community leader and a treasured organization, you'll enjoy a great time with old and new friends. You'll have a relaxing day at Canterbury Golf Club, including a delicious lunch, prizes, and an after golf & tennis reception.

Registration & Sponsorship Form: 2010 Golf & Tennis Outing (pdf)

Get Free Tax Form and FASFA Preparation!

Who: WECO Fund
When: By Appointment - 216/458-0250, ext. 116 (Doug)
Where: 3209 Chester Avenue, Cleveland, Ohio 44114
Who Qualifies: Any individual making $57,000 or less.

In addition to preparing these forms, WECO will assist you in identifying state benefit programs for which you may qualify. For more information, please go to www.wecofund.com, www.refundohio.org, or www.obb.ohio.gov.

Brought to you by the WECO Fund and the Ohio Benefits Bank.

Do I need to be Jewish to apply for a loan with HFLA?

No, you do not need to be Jewish to apply for a loan with HFLA.  HFLA is a non-sectarian organization. HFLA accepts applications from anybody who lives in Northeast Ohio and is not able to acquire a loan through conventional methods.

What kind of income level must I have to apply for a loan?

We do not require a specific income level. We require that you have a monthly income and that we see that there is an ability to repay the loan. We will look at your monthly expenses versus your income, as well as your credit history.

What details should I include on the monthly expense form?

Your monthly expense form must include all payments you make during the month, even if you are delinquent on those payments. It must be filled out as accurately and fully as possible to be accepted for a loan application.  The expense form can be found with the applications that you can download.

Must I have a co-signer?

All our loans require co-signers (please see application information as to how many co-signers are needed per amount). Co-signers are our one source of back up if an applicant defaults on his/her loan. Co-signers must sign a legal document that they are aware of this fact.

What criteria must a co-signer have?

A co-signer will be someone who has good credit and enough monthly income to satisfy the repayment obligations in the event that the applicant defaults on his/her loan. We want to see that if we needed to approach a co-signer that we would not be putting an unreasonable financial burden upon him/her. 

How do I get an application form?

You can print an application form off of our website: www.hflaclev.org . If you do not have internet access, once you have clarified that you have the co-signers you need and can meet our other qualifications, we will be happy to mail you forms. 

What documentation do I need to provide?

You must fill out the application forms completely and provide all of the following documentation.

• PROOF OF CURRENT INCOME
• INCOME TAX RETURN
• COMPLETED MONTHLY BUDGET FORM
• NOTE OF EXPLANATION FOR LOAN REQUEST
• COPIES OF BILLS/INVOICES TO BE PAID  OR OTHER DOCUMENTATION

Your co-signer(s) must complete the guarantor information form and send in the following documentation:

• PROOF OF CURRENT INCOME OR TAX RETURN OR W-2 FORM OR OTHER

Do I need to provide identification?

In compliance with the Patriot Act, we require 2 forms of picture identification.

Do I need to come into the office?

You can mail, fax or bring your application into the office. If you are coming to the office and would like to speak with someone, we ask that you call and set up an appointment. We are a small staff and have varied hours.

What happens once my application is in?

Once a completed application is in, the office will process it. We run credit reports on you and your co-signer(s), and evaluate all your forms. If, after reviewing your application and documentation, we determine that we need more information or documentation to evaluate your application, we will contact you. Once the application is complete, we will make you an appointment to meet with the loan committee.

How long until I know if my loan is approved?

Our loan committee meets once or twice a month depending on the need. If no additional follow-up is required, you will usually know if the loan was approved the next day.

Once a loan is approved, you will be contacted and arrangements will be made to get a promissory note signed by you and your co-signers. Once the promissory note is signed, the loan can be issued. 

If my loan is approved do you write the check to me?

We do not write checks directly to our applicants. We will write checks to your source of need. i.e. orthodontist office for braces, contractors for home repair, mortgage companies for delinquent payments, payday loan companies for payday loans.

What is the payback time period?

Payback begins the month after we loan the money and is as follows:

15 months for up to $3,000

24 months for above $3,000 - $5,000

36 months for above $5,000 - $7,500 (our maximum amount for loaning)

Can I have payments directly debited from my paycheck or make online payments?

Unfortunately, we are unable to offer these services at this time.  Applicants may mail us a check each month, drop payment off at our offices, give us postdated checks or you can set up with your bank to have them mail us a monthly payment.

What happens if my check is returned from the bank?

Any fees we accrue from returned checks will be added to your account. If we have more than one returned check you may be asked to send us monthly money orders instead of checks.

Can I pay off my loan early?

You can always pay off your loan early. We require our clients to make their regular monthly payments and recommend if they have extra income available to pay it towards any debts they have that might accrue interest before they would increase our payment.

What happens when I pay off my loan?

Once a loan is paid off and month's end reports are processed, we will mail you your paid off promissory note as proof of the loan being repaid.

Can I make a donation to HFLA?

We are always happy to accept donations. Donations are how our organization exists and continues to run.

Can I make a donation online?

You can make a donation online at our website www.hflaclev.org .

Student Loans

What makes student loans different that your regular loans?

Full time student loans are repaid at a lower rate for the duration of time that the applicant is a student.  When the applicant is no longer enrolled in school, his/her loan is due in full or turned into a regular loan.

Does my GPA affect my ability to get a loan?

Your GPA does not affect your ability to get a loan.  HFLA Student loans are need based, not merit based. 

What documents do you need?

We will need to see your letter of acceptance at the school, tuition, scholarship and grant information and a copy of your FAFSA document.

For questions that were not addressed in this section, please call our offices at 216-378--9042 or send us an email at team@hflaclev.org.

Board Meetings	6:30 pm on the third Monday of the month at 5910 Landerbrook Dr. in the basement conference room.
Loan Committee	4:30 pm on the first Tuesday of the month at the HFLA offices.
Executive Committee	Following every loan committee meeting.
Golf Committee	First Monday of the month through July in the HFLA offices.