Helping People Help Themselves
Federation’s Hebrew Interest-free Loan Program
No cost, no interest…changing lives one loan at a time!
In the late 19th century, members of small but established Jewish communities throughout the country came together to develop plans to help newly arrived Jews to build new lives. Guided by the interest-free lending mandate in the Torah, interest-free loans were made. These funds were known as Hebrew Free Loan programs. Over the years, they provided financial assistance to waves of Jews who came to the United States both as immigrants and as refugees.
Today’s financial needs are different, but Federation’s Hebrew Interest-free Loan Program can still help, lending money interest free to any Jewish person from Central New York who is in need of temporary financial assistance. Zero interest personal loans, up to $7,500, can be obtained for many purposes, including medical and dental bills, debt consolidation, small business loans, lifecycle events, family emergencies, car and home repair, camp fees, school tuition and fees, adoption and fertility services.
Monthly payments begin one month after the loan funds are disbursed until the loan is paid in full. Terms and payments are determined for each loan by the Loan Committee in consultation with the borrower. All information is kept in the strictest confidence. As loans are repaid, funds are recycled to make new loans.
For more information about the Hebrew Interest-free Loan Program, contact Federation CFO Don Cronin at 315-445-2040 x114 or firstname.lastname@example.org.