Welcome to the Silver Lining Guarantor Fund, a unique donor program that will enable donors to assist qualified potential borrowers obtain loans when there is difficulty obtaining guarantors.
HFLSD loan protocols, consistent with other members of the International Association of Jewish Free Loans, require loans to be guaranteed by one or two guarantors, depending on type and amount of loan. A “guarantor” is a responsible party who agrees to assume the obligations of an HFLSD interest-free loan if the borrower cannot pay their loan.
The Silver Lining Guarantor Fund enables potential borrowers, who have difficulty finding guarantors, or need funds immediately and do not have the time to secure guarantors, receive an HFLSD interest-free loan.
Hebrew Free Loan of San Diego takes pride in assisting and encouraging San Diego Jewish community members on their path to financial freedom.
Meet Our Loan Recipients Who Are Benefitting from the Silver Lining Guarantor Fund
Lauren, an Education Loan recipient, is an Israeli immigrant student seeking her degree from a local San Diego institute of higher education.
This Personal Needs Loan recipient, who would like to remain anonymous, is seeking to clear his debt incurred from moving with his family to the United States.
Silver Lining Guarantor Fund Parameters
- A minimum donation of $25,000.
- 40% of the Silver Lining donation ($10,000) is reserved for guaranteeing loans when qualified borrower is unable to obtain a qualified guarantor, and the remaining 60% ($15,000) is applied to the HFLSD general loan/operating account. The full $25,000 is tax deductible.
- A Donor’s guarantor funds will be matched with potential borrowers that meet all the other underwriting criteria for an HFLSD loan.
- HFLSD will provide Silver Lining donors with basic non-confidential information about the specific recipient(s) of the loan(s) the donor is guaranteeing.
- The guarantor portion of a Silver Lining donation will remain segregated exclusively for loan guarantees (less any loan balance on default of guaranteed loans) for 12 years – helping multiple borrowers over the course of that time. After 12 years, any segregated guarantor funds remaining will be moved to our general loan/operating account.
- Donor will receive annual reports indicating use of funds and the recycling of these funds.
- Multiple HFLSD Silver Lining Guarantor donations are permitted and encouraged.
