Helping Dreams Come True with a Recently Unemployed Loan

Beth came to Hebrew Free Loan of San Diego on a referral from a friend. She originally applied for a Debt Consolidation Loan, but while completing the necessary documentation she lost her main job. After careful consideration, HFLSD and Beth realized that a Recently Unemployed Loan would be the best way to bridge the gap while she looks for a new job. HFLSD creatively worked with Beth to craft a loan that allowed her to pay off some of the higher income debt that was accumulated due to COVID related issues with a portion of her loan, and a portion to be used for living expenses on a monthly basis. This loan was funded through the COVID Relief Guarantor Fund, as the initial debt is due to losing her job at the beginning of the pandemic. This loan provides Beth some cushion so she can focus her energy on finding a new full time position, and allows her to alleviate the high interest credit card payments without having to dip into her savings. Beth is “relieved that there is an organization like HFLSD that can help community members in need during difficult times. I was excited to be able to pay off my debt, but when I lost my job I was extremely worried about what would happen. Working with HFLSD and being able to remove my credit card payments on a monthly basis, while receiving extra each month for living expenses will allow me to focus on my job search and not feel strangled by my monthly expenses. I look forward to paying this loan back as quickly as possible so I can pay it forward and watch the money help someone else in our community.”