You may qualify for one of our HFLA interest-free loans as a Quebec resident, 18 years or older, with a demonstrated financial need.
To apply and to learn about the loan approval, closing and repayment process, follow the step-by step instructions below.
Please note your confidentiality is preserved throughout the loan process.
We offer different loan programs to help you achieve greater financial stability and opportunity in a time of need. See Our Loans
HOW TO APPLY FOR YOUR LOAN
Find the HFLA loan that’s right for you
Review the interest-free Loan Program page that covers a variety of needs and opportunities and select the one that’s right for you.
Secure an endorser
Your endorser must meet certain requirements and is legally responsible, solidarily with you, to repay the unpaid balance of the loan.
Your endorser must:
- Reside in Quebec
- Be 18 years or older
- Not be your spouse or a current borrower with the HFLA
- Not be the spouse of one of your endorsers. One person of a married couple may be an endorser, but not both
Note: An endorser may endorse more than one loan, provided (s)he is capable of repaying all the loans, and the outstanding loans are not delinquent.
Each endorser is bound solidarily with you, the borrower, to repay the unpaid balance of the loan should you be unable or unwilling to do so. Please ensure that your endorser understands his/her legal responsibility prior to obtaining their endorsement.
Depending on the loan amount requested, you will need the following number of endorser(s)
| Loan Amount | # of Endorsers |
|---|---|
| $ 3,000 and less | 0 |
| $ 3,001 to $6,000 | 1 |
| $ 6,001 - $15,000 | 2 |
* endorser requirement is subject to the discretion of the loan committee
Complete & submit your loan forms
To request a loan, please make sure the following three loan application materials are completed and submitted:
- - The Applicant Form
- - The Endorser Form
- - Proof of Identification with photo and signature (email or fax us one of the following: driver's license, medicare card or passport)
We will start processing your application when we receive all three of these components. Complete and submit your loan forms, with the required documents, and ensure your endorser(s) does the same
The application materials consist of the following forms and documents underlined. Please complete or scan and submit these forms online.
Note: These forms can also be downloaded and mailed or emailed to the HFLA office, by you and the endorser(s).
Forms
- The Applicant Form to be completed by you
- The Endorser Form to be completed by your endorser(s)
Documents:
- Proof of Identification: passport and either a driver’s license or medicare card
If you don’t have a driver’s license or medicare card, you may submit copies of your social insurance or citizenship card. Your personal information and signature must be included on the copies.
The HFLA reviews your loan application materials
Upon receipt of your loan application materials the HFLA office and committee members review your materials in hopes of approving your loan.
Loan approval and closing, including repayment
To find out if your loan is approved, in full or in part, with the support of your endorser(s), please call the HFLA office, 514.733.7128 the day after your loan review.
Upon approval, we will email you the following three documents for you to sign and return to us;
- - Promissory Note (this also needs to be signed by your endorser(s)
- - Debit Agreement
- - Use of Funds Agreement
When you return the above three documents, please also send us;
- - Endorser proof of identification
- - Void Cheque from your financial institution.
Upon receipt of these materials, HFLA will issue your Loan Cheque. Your first repayment date is one month following the loan deposit date, and continues every month thereafter until the loan is paid in full.
You will need to email the HFLA office the following materials to receive your loan cheque:
Documents signed by you:
- Promissory Note (you will also need to obtain the signature(s) of your endorser(s))
- Debit Agreement
- Use of Funds Agreement
- Proof of identification from your endorser(s): passport & a driver’s license or medicare card
If the endorser doesn’t have a driver’s license or medicare card they may submit a social insurance or citizenship card. Please make sure their personal information and signature is included on the copies. - A Void Cheque indicating your account information, from a recognized financial institution.
Once we receive and verify all the loan closing materials, we will issue your loan cheque. You can either pick up the cheque at our office or we can mail it to you.
You will need to repay your loan in monthly installments until the loan is paid in full.
Your first payment is due one (1) month from the date of your loan receipt. Your second through final payments are due every month thereafter, on that same day of the month, until the loan is paid in full.
Guidelines for Loan Amounts and Repayment Terms
| Loan Amount | Monthly Repayment Amount | # of Months |
|---|---|---|
| $750 (Mitzvah) | $30 | 25 |
| $1000 (Mitzvah) | $30 | 33 |
| $1,000 | $50 | 20 |
| $3000 | $150 | 20 |
| $6,000 | $250 | 24 |
| $10,000 | $278 | 36 |
| $15,000 | $357 | 42 |