Hebrew Free Loan Detroit (HFL) is here to help: HFL continues our same mission since 1895 — to provide interest-free loans to enhance the lives of Jews across Michigan.
Let’s talk turkey: Inflation continues, as we are paying more at the gas pump, in stores, for higher education and for just about everything. We are entering a global recession that may be around for a while, as political divides and war disrupt supply chains and trickle down to harm each of us and our personal economics. While most goods and services cost more, our assets continue to lose value. Debt is increasing as credit cards and high-interest lenders are charging rates that deepen the chasm for many people in our community.
Hebrew Free Loan Detroit (HFL) is here to help: HFL continues our same mission since 1895 — to provide interest-free loans to enhance the lives of Jews across Michigan. HFL is here to partner with loan borrowers to provide the following resources:
-$10,000/ year (undergraduate) and $15,000/year (graduate) to cover costs of attending qualifying Michigan colleges and universities full time.
-$15,000 debt consolidation loans for qualifying applicants who first go to Gesher (formerly JVS+Kadima) for a free consultation and deep review of their credit report and financial situation. These loans are to pay down high-interest, compounding debt and improve credit patterns.
-$20,000 loans for In-Vitro Fertilization (IVF), fertility, genetic tests and adoption.
-$100,000 to launch or expand a small business.
Each Jewish applicant who comes to HFL is treated with dignity, respect and confidentiality. HFL has a caring staff and helpful board of community leaders who understand and know our Michigan region with its resources, so we partner with our loan borrowers to try to find solutions. History has taught us that inflation and recessions happen in cycles, and that is why HFL is ready right now (and throughout this recession) to help Michigan’s Jewish community members with our interest-free loans.
If you know a Jewish resident in Michigan who is ready to partner with us and could benefit from an interest-free loan, please have that person contact HFL at (248) 723-8184 or visit our website: www.hfldetroit.org. You can also scan this QR code with your smartphone camera.
David Contorer is executive director of Hebrew Free Loan.