Interest-Free Loan Program
Helping individuals and families with life’s ups, downs, and everything in between.
The CJP Interest-Free Loan Program is here for the times you need help affording bar and bat mitzvahs, other lifecycle traditions, or managing challenging expenses.
Loans of $1,000 up to $10,000 are available toward the following types of expenses:
- Bridge Loans: Small loans for living expenses during a transition
- Lifecycle Ceremonies: B’nai mitzvah, weddings, or funerals
- Summer camp, gap year, and teen and young adult Israel experiences
- New baby, fertility, adoption, or extension of maternity or paternity leave
- Car purchase or repairs
- Home repairs
- Move-in costs (e.g. first month’s rent, last month’s rent, security deposit)
- Healthcare not covered by insurance
- Care of older adults or people with disabilities
- Self-employed small business costs
- Small debt consolidation
Eligibility
Loans are available to people of moderate income who live in our service area, who have an eligible expense, and who have good credit as well as sufficient financial resources to repay the loan. We look for the following:
Loans are available to people of moderate income who live in our service area, who have an eligible expense, and who have good credit as well as sufficient financial resources to repay the loan. We look for the following:
- Residency in the Metrowest area
- Household income at or around 100% of area median income (AMI) – click here for 2026 income limits or click here for the Fannie Mae Area Median Income Lookup Tool to search based on your home address
- Credit score of 650 or above
- At least one credit-worthy co-signer
- Household budget demonstrating sufficient income for loan repayment
Repaying your loan
Loan repayment begins the first month after the loan was made. The specific repayment amount and schedule will be decided in conversation with the representative working with you on your loan. Sample repayment plans:
- $10,000 loan: $250 per month over 3 years and 4 months (40 months)
- $10,000 loan: $200 per month over 4 years and 2 month (50 months)
- $5,000 loan: $150 per month over 2 years and 9 months (33 months)
As part of the eligibility review process, applicants will be asked to complete an application, provide financial statements, and submit a household budget.
To apply or for more information, call 508-875-3100 ext. 300 or email cjploan@jfsmw.org
Funding provided by:
