Loans
Compare Available Loan Types and Requirements
JFLT offers interest-free loans that can meet a range of different needs. Review our zero-interest loan types below to find the loan that is right for you, and if you have any questions, be sure to contact us. All inquiries and applications to JFLT are strictly private and confidential. If you already know which loan type you are applying for, simply click the Apply Now button below to be taken to our application form. For a simplified table comparing all loan types, please scroll to the bottom of the page.
Please note: the submission of your loan application does not create any legal obligation upon JFLT to provide the requested loan. Our loan approval shall be subject to terms and conditions satisfactory to JFLT.
After you send us your completed application and required supporting documents, they will be processed by an intake counsellor. They will then be forwarded to a financial officer for review. If everything is in order, you will receive an interview with members of our Loan Committee. After your interview, your application will receive a final evaluation by our Loan Committee. An intake counsellor will be in touch the day afterwards to notify you if your loan was approved.
Getting a loan from JFLT is fast, but it is not automatic. We aim for a timeline of between 2 to 4 weeks from receipt of a complete application. Incomplete applications will take longer to process.
Personal Loans - Up to $10,000
General Information
Jewish Free Loan Toronto is committed to helping to ease the financial stress of Jewish residents of Ontario, Saskatchewan, and Atlantic Canada who are in need, with Personal Loans of up to $5,000 with no guarantors and up to $10,000 with one guarantor. Applicants must be 18 years of age and be a Canadian Citizen or Permanent Resident.
These loans can be used to assist with essential needs including but not limited to:
- Living Expenses
- Household Necessities
- Auto Repairs
- Rent and Arrears
- Medical Emergencies
- Dental Treatments
- Burial and Monuments
- High-Interest Debts
Repayments are $25 per month for loans of $1,000 or less, $125 per month for loans up to $5,000 and $175 per month for loans between $5,001 and $10,000. If approved for a loan, applicants will be able to choose either the 1st or 15th of each month as their repayment date.
Guarantor Information
- Loans up to $5,000 require no guarantors
- Loans from $5,001 to $10,000 require (1) guarantor
- For additional information on guarantors, please scroll to the bottom of the page and refer to the FAQ
- To download the guarantor documents, please click here.
Required Documentation
- Completed and Signed Application
- Completed Financial Statements
- Completed Guarantor Application and Personal Guarantee, if applicable
- Copy of signed photo identification (e.g. drivers’ license, passport, etc.) for all applicants and guarantors
- Copies of all documents listed as required on Financial Statements
- Copies of supporting documentation related to reason for applying (e.g. bills due, quote for treatment, etc.)
Education Loans - Up to $12,000
Jewish Free Loan Toronto provides Education Loans of up to $12,000 per year, up to a maximum of $25,000 to help Jewish residents of Ontario, Saskatchewan, and Atlantic Canada attain their academic goals. These loans can be used for undergraduate and graduate level programs, gap-year programs, studies abroad, professional recertification, and more. Applicants must be 18 years of age and be a Canadian Citizen or Permanent Resident.
General Information
- Tuition and Fees
- Books and Supplies
- Research Material
- Related Travel Costs
- Living Expenses
- Exams and Licensing
Educational loans are repaid at $75 per month while enrolled. Repayments increase by $25 per month for each additional loan. Once the applicant is no longer enrolled, the loan balance is to be repaid over 60 months, with the applicant having the option to defer the increase for up to 4 months after the applicant is no longer enrolled. Please note: if approved for a loan, it is the sole responsibility of the borrower to provide proof of enrollment at the beginning of each academic year in order to maintain the abovementioned full-time or part-time repayment rates.
As JFLT Education Loans are intended to supplement existing government financial assistance programs, if you are eligible to receive OSAP for your school or program, you must include proof of application to OSAP alongside your application to JFLT. Those ineligible for OSAP may still apply for a JFLT Education Loan.
Guarantor Information
- Loans up to $5,000 require no guarantors
- Loans from $5,001 to $12,000 require one (1) guarantor
- For additional information on guarantors, please scroll to the bottom of the page and refer to the FAQ
- To download the guarantor documents, please click here.
Required Documentation
- Completed and Signed Application
- Completed Financial Statements
- Completed Guarantor Application and Personal Guarantee, if applicable
- Copy of signed photo identification (e.g. drivers’ license, passport, etc.) for all applicants and guarantors
- Copies of all documents listed as required on Financial Statements
- Copy of OSAP application, if eligible
- Copy of enrollment letter and tuition statement
- Copies of supporting documentation related to any additional stated needs
Fertility and Adoption loans - up to $10,000
Jewish Free Loan Toronto can provide Fertility and Adoption Loans of up to $10,000 to assist with the costs associated with fertility treatments or adopting a child. Applicants must be Jewish residents of Ontario, Saskatchewan, or Atlantic Canada who are 18 years of age, and are either a Canadian Citizen or Permanent Resident.
General Information
- IVF or IUI
- Egg or sperm preservation
- Medications not covered by OHIP
- Surgical procedures not covered by OHIP
- Adoption fees
- Training courses
Repayments are $175 per month. If approved for a loan, applicants will be able to choose either the 1st or 15th of each month as their repayment date.
Guarantor Information
- Owing to the generosity of our donors, JFLT is proud to have a number of Named Funds designated specifically for Fertility and Adoption Loans. Provided that loan capital is available in these Named Funds, guarantors are not required for Fertility and Adoption Loans of any amount up to $10,000. Please inquire with JFLT prior to the submission of your application to confirm whether this is currently an option. Otherwise, the requirement is as follows:
- Loans up to $5,000 require no guarantors
- Loans from $5,001 to $10,000 require (1) guarantor
- For additional information on guarantors, please scroll to the bottom of the page and refer to the FAQ
- To download the guarantor documents, please click here.
Required Documentation
- Completed and Signed Application
- Completed Financial Statements
- Completed Guarantor Application and Personal Guarantee, if applicable
- Copy of signed photo identification (e.g. drivers’ license, passport, etc.) for all applicants and guarantors
- Copies of all documents listed as required on Financial Statements
- Copies of supporting documentation related to reason for applying (e.g. quote for treatment, fee statement, etc.)
Jewish School Loans - Up to $12,000
Jewish Free Loan Toronto and UJA Federation are committed to helping parents with the cost of tuition at Jewish Day Schools and are pleased to offer up to $12,000 in interest free loans to families enrolled at both UJA-affiliated Jewish Day Schools* and all other Day Schools for the 2023/24 school year. Applicants must be Jewish residents of Ontario who are 18 years of age, and are either a Canadian Citizen or Permanent Resident.
General Information
Your family may qualify for an interest free Jewish School Loan if you meet at least one of the following criteria:
- Are receiving regular tuition assistance at a UJA affiliated, or ANY other Jewish Day School for the 2023/24 school year
- Are paying full tuition at ANY Jewish Day School for the 2023/24 school year
- Are receiving a Generations Trust Scholarship for the 2023/24 school year
- Received an interest-free Jewish School Loan for the 2022/23 school year
*UJA affiliated Jewish day schools: Associated Hebrew Schools, Bialik Hebrew Day School, Eitz Chaim Schools, The Joe Dwek Ohr HaEmet Sephardic School, Kayla’s Children Centre, The Leo Baeck Day School, Montessori Jewish Day School, Netivot HaTorah, Paul Penna Downtown Jewish Day School, Robbins, Hebrew Academy, The Toronto Heschel School, Bnei Akiva Schools, Tanenbaum, CHAT, Tiferes Bais Yaakov Yeshiva, Darchei Torah, Moriah Girls’ High School
Repayments are $175 per month. If approved for a loan, applicants will be able to choose either the 1st or 15th of each month as their repayment date.
Guarantor Information
- Loans for tuition at UJA-affiliated Day Schools do not require a guarantor
- Loans for tuition at non-affiliated Day Schools require one (1) guarantor
- For additional information on guarantors, please scroll to the bottom of the page and refer to the FAQ
- To download the guarantor documents, please click here.
Required Documentation
- Completed and Signed Application
- Completed Financial Statements
- Completed Guarantor Application and Personal Guarantee, if applicable
- Copy of signed photo identification (e.g. drivers’ license, passport, etc.) for all applicants and guarantors
- Copies of all documents listed as required on Financial Statements
- Copy of enrollment letter and tuition statement
- Copy of scholarship letter, if applicable
Community Partnerships
Please note: The submission of your loan application does not create any legal obligation upon JFLT or any of its community partners to provide the requested loan or other services. Approval shall be subject to terms and conditions satisfactory to JFLT and its community partners.
- The JFLT & Kehilla Joint Rent Relief Program – Are you in arrears, or unable to pay next month’s rent? Jewish Free Loan Toronto and Kehilla are here to help. Our Joint Rent Relief Program can provide you up to $7000 of assistance, split between a loan and a grant. Jewish residents of the Greater Toronto Area are encouraged to contact either agency to learn more about the program, and confirm their eligibility.
- Financial Assistance for Jewish Ukrainian Newcomers – For nearly a century, Jewish Free Loan Toronto has been helping Jewish newcomers re-settle in Canada. Today, in partnership with the UJA, JFLT continues its mandate by offering interest-free loans to Jewish Ukrainian newcomers arriving through the Canada-Ukraine Authorization for Emergency Travel, and other official programs. Please contact us to find out more.
Loan Type Comparison
The following reflects the JFLT loan amounts, guarantor requirements, and repayment structure as of June 22nd 20211
| Loan Type | Loan Amount | Guarantors Required | Monthly Repayment Sum |
|---|---|---|---|
| Non-Guaranteed Personal | $0 – $1,000 | None | $25 |
| Non-Guaranteed Personal | $1,001 – $5,000 | None | $125 |
| Guaranteed Personal | $5,001 – $10,000 | 1 | $175 |
| Education | $0 – $5000 $5001 – $12000 | 0 1 | $75 – Full Time Students $100 – Part Time Students $175 After Graduation |
| Jewish School | $12,000 | 12 | $175 |
| Fertility and Adoption | $10,000 | 0 – 13 | $175 |
1 Subject to change.
2 With the exception of UJA-affiliated schools.
3Contingent upon available funds.