Health Care Loan

Rules & Guidelines:

  1. The minimum loan amount is $5,000.00 and the maximum amount is $10,000.00  (Please do not apply for more than is actually needed).
  2. Loan Specific Borrower and Guarantor Qualifications
    1. Borrower must have a verifiable need for Health Care.
    2. If the borrower is unable to execute the necessary documents; the signature of borrower’s attorney-in fact will be acceptable upon receipt of an appropriate Power of Attorney document.
    3. A minimum of two (2) qualified Guarantors are required for Healthcare loans. Additional Guarantors may be required should the Loan Committee deem it necessary.
    4. Guarantors cannot reside at the same address as the Borrower or any other guarantor (spouses are exempt from this clause)
    5. Borrower must provide health care invoices, Estimate of Benefits (EOBs), physician’s statement of need and/or any other supporting documentation required by the DHFLA.


The Borrower is expected to pay off the note within forty-eight (48) months in equal monthly installments, commencing within one month after receiving the loan. The specific terms will be determined by the Loan Committee upon approval of the loan and will be specifically stated in the Promissory Note.

Processing Steps To Follow:

  1. The borrower must complete a) his or her portion of the DHFLA loan application  in detail and b) sign the promissory note (if married the spouse is considered an additional guarantor). The specific terms of the promissory note (commencement date and payment amounts) must be left blank and will be filled in by DHFLA at the time the loan is approved.  Complete and sign the ACH authorization letter.
  2. Guarantors must complete their portion and sign the guaranty agreement, and the guarantor’s Information Release Authorization form. Note: Original signed documents are required, no faxes or emails are accepted.
  3. Once the application has been filled out in detail, the borrower may deliver or mail the application to the DHFLA office . He or She will be contacted for a personal interview.