Jewish Free Loan of Greater Portland has created a streamlined loan process for those who encounter financial difficulties for reasons directly or indirectly attributable to COVID-19.
COVID-19 crisis loans will be limited to $1,000, and like all free loans are interest free.
JFLGP will budget up to $20,000 for these COVID-19 crisis loans. The Free Loan Committee will request additional
resources from the local COVID-19 emergency campaign.
These crisis loans require no cosigner (except spouse if married). Documents can be submitted digitally, with originals mailed within 14 days of funding.
Interviews will be expedited; a volunteer will do a phone interview within one day with a decision by the volunteer, loan chair and one executive member being made quickly.
The applicant will be required to establish
need resulting from COVID-19, but the reasons for the need may be diverse, including lost wages, childcare costs due to school closures, small business losses, medical costs, etc. The office personnel and the interviewer will exercise their judgment as to what supporting documentation, if any, should be provided by the loan applicant.
Repayments will begin after 120 days with payments of $28/month for 36 months (for $1,000 loan).
To apply for a loan, visit jewishportland.org/freeloan. For more information, email FreeLoan@jewishportland.org or call Ben Winkleblack at 503-892-7417.