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HISTORY The Jewish Free Loan was founded in the 1940's to assist Jewish individuals and families with financial aid when they had no place else to find help. Our history and creed date back to the Book of Exodus (Mishpatim, Civil Legislation - Chapter 22, verse 24) "Thou shalt not exact interest from the needy among you". Jews who had to leave Spain and Portugal to escape persecution by the Inquisition were only allowed admittance to New York on the condition that they not be a drain on the community. The Jews established the equivalent of the modern Hebrew Free Loan under the precept of 'Gemilut Chasadim' benevolent societies. In the early 20th century, there were hundreds of Free Loan groups; today there are only forty. Though originally most loans were for immigrant resettlement and debt consolidation, today we are addressing new challenges adapting to meet the needs of modern Jews. We are a non-profit 501 (c)(3) organization funded entirely by private donations. The JFL has made thousands of interest free loans allowing people a fresh start or giving them the opportunity to bridge a difficult time in their lives in a process respectful of their dignity and character. Guided by the Biblical precept Gemilut Chasadim (Acts of loving kindness) and Maimonides' highest level of tzedakah (righteousness), these loans allow borrowers to become educated, self reliant and future contributors to our community. Our loans make a difference in someone's life! |
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| © 2010Jewish Free Loan | Beyondmotion |
