Jewish nonprofits around the country have stepped up to help those affected by the coronavirus – but perhaps none so tangibly as the country’s free loan societies, because they’re putting or keeping cash directly in people’s pockets.
Since August of 2020 the Bank Leumi USA Small Business Support Initiative at the Hebrew Free Loan Society has provided more than $600,000 in interest-free Small Business Loans to help low- to moderate-income New Yorkers launch, grow, or expand their businesses.
The Hebrew Free Loan Society (HFLS) fosters financial stability and opportunity by providing access to safe and affordable credit in the form of interest-free loans. HFLS loans enable borrowers to attend college, improve their job skills, start a business, or respond to unexpected financial challenges. HFLS is a non-sectarian lender, serving the New York City area since 1892.