Jewish Free Loan Chicago
Featuring: Leah Greenblum, Founder and Executive Director
In the Middle Ages Moises Maimonides (1), great philosopher, physician and rabbi, outlined eight levels of tzedakah (charitable giving). He describe the highest form of giving is to give a gift, loan, or partnership that will result in the recipient becoming self-sufficient instead of living upon others. Jewish Free Loan Chicago is embodying this level of giving in an effort to engage people to help those in need.
Jewish Free Loan Chicago’s mission is to help Chicagoans discover small personal loans with zero-interest, in an effort to cut out the need for predatory lending, often in the form of risky payday loans and car title loans.
At Jewish Free Loan Chicago, people of all backgrounds can discover personal loans that are fast, easy, and accessible to anyone in the Chicagoland area.
What is a Jewish Free Loan?
An age-old tradition recrafted for the 21st century, a Jewish free loan is a small personal loan that is interest-free and can be paid back on a timeline that meets each borrower’s individual needs.
Where do interest-free loans come from?
Rooted in teachings from the Torah and sages, Jewish free loans are a time-honored tradition in the U.S. and beyond. In fact, most U.S. cities play host to at least one Jewish or Hebrew Free Loan agency. Unlike JFLC, some Jewish loan societies cater only to the needs of the Jewish community and do not have income caps. JFLC serves low- to moderate-income people of all backgrounds who need access to capital.
Loan Possibilities
JFLC borrowers’ financial status can be wide-ranging, and their potential financial needs can also run the gamut, including:
- General expenses: transportation, technology, and debt consolidation
- Employment: job-search, initial costs (transportation/relocation), job training
- Healthcare: medical, mental, and dental
- Women & children: childcare, education, fertility, adoption
- Legal fees: divorce, immigration, discrimination
- Education: tuition, supplies
Jewish Free Loan Chicago is part of the International Association of Jewish Free Loans, a large network of 50 related organizations.
- https://www.jewishvirtuallibrary.org/moses-maimonides-rambam
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