Loans
Loans are currently provided to low and middle income persons who can show proof of a minimum monthly income of NIS 3,000 (about $730 per month) and not in excess of NIS 13,000 net monthly family income from the same source over the last 12 months. Guarantors with a net monthly income of at least NIS 3,000 for at least 12 months are required. A mutually acceptable monthly repayment schedule is worked out in advance with each borrower.
The following is needed to submit an application:
- Copy of I.D. document for the borrower and wife/ husband.
- Proof of employment/income- salary slip or other document. For self-employed, a CPA letter attesting to net income for the past twelve months.
- Bank account information- name of bank, branch, account number.
- Guarantors – fill out information requested on our application form.
Loan Categories
The following is a list of the loan categories available to immigrants and other needy Israelis at the Israel Free Loan Association:Category
Maximum
Details
(Hebrew)
(Hebrew)
Form
(Hebrew)
(Hebrew)
11
Families raising handicapped child, or families caring for handicapped receiving state support
NIS 30,000
16
Emergency situations - by special consideration of the
committee for approving loans
committee for approving loans
As approved by the committee