Jewish Care Victoria offers COVID-19 interes- free hardship loans

April 2, 2020 by Kirsten Young
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Jewish Care Victoria has launched a special COVID-19 Interest-Free Hardship Loan, offering financial support to members of the community adversely affected by the coronavirus pandemic.

The special loans are being offered through Jewish Care’s Empower Loans program and were created in recognition of the unique circumstances and financial insecurity currently faced by many in the community due to COVID-19.

Features of the special COVID-19 Interest-Free Hardship Loans include:

  • Loans that range from $1,000 for a single person; $1,500 for a couple; and between $2,000-$2,500 for a family, dependent on the number of children.
  • Commencement of loan repayments not occurring until four months following loan approval.
  • Streamlined loan applications managed electronically.

Jewish Care prefers that borrowers have one guarantor to the loan. However, other options may be available to those in need who are unable to provide a guarantor.

Whilst many people impacted by the global health crisis will be entitled to a range of new Government offerings, Jewish Care understands that immediate, unforeseen, and unmet costs may arise during these difficult times. Because of this, Jewish Care is also implementing new processes to enable the COVID-19 Interest-Free Hardship Loans to be paid within 72 hours of approval.

“This is a tough time for many people in our community. For those experiencing hardship or crisis at this time, quick access to support and resources, including funding, is crucial,” said Simon Jedwab, Program Manager – Employment Centre.

“Offering this new loan is one of the ways Jewish Care can help individuals and families in our community access assistance quickly, and by doing this, hopefully, alleviate some of the stress and financial uncertainty many people are feeling at the moment.”

The Jewish Care COVID-19 Interest-Free Hardship Loans can be accessed through the COVID-19 Helpline and are one of many services and supports available to the Victorian Jewish community during the global health crisis.

For more information and to access COVID-19 Interest Free Hardship Loans and other supports available to individuals and families adversely impacted by the coronavirus, please contact the Jewish Care COVID-19 Helpline on 8517 5555, Monday-Friday between 8:30am and 6:30pm, or enquire online at www.jewishcare.org.au/COVID19helpline

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