EMERGENCY LOAN FUND
An emergency loan fund has been established exclusively for FFF beneficiaries. Individual interest-free loans of up to $2,000 will be made (subject to the availability of funds). The ELF is being administered at no charge by the Jewish Free Loan Association in Los Angeles. These loans are intended to meet personal, rather than business, needs, e.g., food, medical care, transportation and shelter.
To apply for a loan, an FFF beneficiary should contact Saul Korin at 323-761-8830 x109 or email@example.com and reference the “Fund for the Future.” You will be asked basic questions -- such as the purpose and amount of the loan. You will be required to have one co-signer over 25 with a steady income and good credit if your loan is under $1,000, and two co-signers for loans over $1,000. One co-signer must be a California resident.
If you live in the L.A. county area, you can make an appointment to meet with Saul Korin to do the paperwork at the JFLA office and discuss your situation. Beneficiaries outside this area can do the loan application by phone. Once you obtain the signature of your co-signer(s), and mail the form back to JFLA, it will take 5-7 days to process. If the loan is approved, the check is issued the next day, and agreed payments begin 30-45 days later. As money is repaid, it will be used to make new loans to FFF beneficiaries.
The JFLA will be glad to answer your questions about the procedures and terms for loans from the ELF.
Information about applying for other benefits will be published here in the future, when the fund becomes operative after the Effective Date of the Settlement Agreement.