How to Apply for Qardan Hasana:
1. Determine where to apply
Aqa Moula (T.U.S.), with karam and ehsan, has established jamaat level, regional, and central Qardan Hasana schemes to benefit momineen. To ease the process of your araz, please make sure you apply with the correct institution. If you are unclear, please talk to one of the committee members, and they can help guide you further. For instructions and forms for regional and Central Qardan Hasana, go here:
Central Qardan Hasana Web Site: http://www.bqhc.org
2. Download Forms
If applying from the Detroit Qardan Hasana scheme, please download the form and addendum from the link below:
Download Form
3. Fill out form completely
The Qardan Hasana form must be completely filled out with no blank fields for it to be considered. If a field is not applicable to you, put N/A in the field. The only page that should be left blank is the last "Schedule A(1)" page. This should be filled out after your application is approved.
4. Have Guarantor Information filled out completely
Guarantor information is critical to the application form and MUST be filled out in its entirety or the form will be given back to you for further completion and the application will not be considered until this is done.
5. Gather Supporting Information
Depending on the type of Qardan Hasana application, supporting information will be needed to process your application. The committee reserves the right to ask for the following, but not limited to, depending on specifics: * Clear title for car * Income verification (current W-2 or 1099) * For business applications, complete and detailed business plans * Detailed Offer letter / agreement for home loans * Immigration status * Student class and fee schedule
6. Get Janab Amil Saheb Signature on form
7. Get signature of Jamaat Treasurer on the Addendum page
8. Submit completed application to one of the QH Committee members
Once Application is approved, the following items will be required:
1. Post-dated checks in the amount of the Qardan Hasana amount that was approved
2. Post-dated Guarantor checks from both guarantors in the amount of the Qardan Hasana amount that was approved
3. Gold collateral (Approx. 10% of the loan value)
4. Schedule A(1) – Securities page in application form filled out, witnessed, and signed
9. Timing Information
* The Qardan Hasana Committee follows Gregorian(Western calendar) month timeline. The deadline to be considered for a particular month is the first Saturday of the month.
* Between the first and third weeks, the Committee will review the application and decide on approval.
* The last Saturday of the month, Qardan Hasana checks (if application approved) can be collected.
* If sufficient funds are not available, then application will be taken up for review again in the following month.
1. Determine where to apply
Aqa Moula (T.U.S.), with karam and ehsan, has established jamaat level, regional, and central Qardan Hasana schemes to benefit momineen. To ease the process of your araz, please make sure you apply with the correct institution. If you are unclear, please talk to one of the committee members, and they can help guide you further. For instructions and forms for regional and Central Qardan Hasana, go here:
Central Qardan Hasana Web Site: http://www.bqhc.org
2. Download Forms
If applying from the Detroit Qardan Hasana scheme, please download the form and addendum from the link below:
Download Form
3. Fill out form completely
The Qardan Hasana form must be completely filled out with no blank fields for it to be considered. If a field is not applicable to you, put N/A in the field. The only page that should be left blank is the last "Schedule A(1)" page. This should be filled out after your application is approved.
4. Have Guarantor Information filled out completely
Guarantor information is critical to the application form and MUST be filled out in its entirety or the form will be given back to you for further completion and the application will not be considered until this is done.
5. Gather Supporting Information
Depending on the type of Qardan Hasana application, supporting information will be needed to process your application. The committee reserves the right to ask for the following, but not limited to, depending on specifics: * Clear title for car * Income verification (current W-2 or 1099) * For business applications, complete and detailed business plans * Detailed Offer letter / agreement for home loans * Immigration status * Student class and fee schedule
6. Get Janab Amil Saheb Signature on form
7. Get signature of Jamaat Treasurer on the Addendum page
8. Submit completed application to one of the QH Committee members
Once Application is approved, the following items will be required:
1. Post-dated checks in the amount of the Qardan Hasana amount that was approved
2. Post-dated Guarantor checks from both guarantors in the amount of the Qardan Hasana amount that was approved
3. Gold collateral (Approx. 10% of the loan value)
4. Schedule A(1) – Securities page in application form filled out, witnessed, and signed
9. Timing Information
* The Qardan Hasana Committee follows Gregorian(Western calendar) month timeline. The deadline to be considered for a particular month is the first Saturday of the month.
* Between the first and third weeks, the Committee will review the application and decide on approval.
* The last Saturday of the month, Qardan Hasana checks (if application approved) can be collected.
* If sufficient funds are not available, then application will be taken up for review again in the following month.