The Hebrew Free Loan Society of Greater Philadelphia (HFLGP) provides

interest In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distin ...

-free

loan In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that ...

s to members of the

Philadelphia Philadelphia, often called Philly, is the List of municipalities in Pennsylvania#Municipalities, largest city in the Commonwealth (U.S. state), Commonwealth of Pennsylvania, the List of United States cities by population, sixth-largest city i ...

Jewish Jews ( he, יְהוּדִים, , ) or Jewish people are an ethnoreligious group and nation originating from the Israelites Israelite origins and kingdom: "The first act in the long drama of Jewish history is the age of the Israelites""The ...

community in need. Founded in 1984 as the Hebrew Free Loan Society at Beth Sholom and housed at

Beth Sholom Congregation (Elkins Park, Pennsylvania) Beth Sholom Congregation is a Conservative synagogue located at 8231 Old York Road in the Philadelphia suburb of Elkins Park, Pennsylvania. It is the only synagogue designed by famed architect Frank Lloyd Wright. ''Beth Sholom'' is Hebrew for H ...

, by 2006, over $2 million in loans had been granted from its

revolving fund A revolving fund is a fund or account that remains available to finance an organization's continuing operations without any fiscal year limitation, because the organization replenishes the fund by repaying money used from the account. Revolving fu ...

. HFLGP is a member of the

International Association of Hebrew Free Loans The International Association of Hebrew Free Loans (IAHFL) is an umbrella organization for Hebrew Free Loan societies, organizations that offer interest-free loans to Jews. There are members around the world, with most in North America. Each member ...

. HFLGP is a 501(c)(3) organization funded entirely by private donations.

General information

HFLGP offers loans of up to $7,500. Borrowers must live in the Philadelphia area, specifically Bucks, Chester,

Delaware Delaware ( ) is a state in the Mid-Atlantic region of the United States, bordering Maryland to its south and west; Pennsylvania to its north; and New Jersey and the Atlantic Ocean to its east. The state takes its name from the adjacent Del ...

, Montgomery or

counties in

Pennsylvania Pennsylvania (; ( Pennsylvania Dutch: )), officially the Commonwealth of Pennsylvania, is a state spanning the Mid-Atlantic, Northeastern, Appalachian, and Great Lakes regions of the United States. It borders Delaware to its southeast, ...

, or Burlington, Camden,

Gloucester Gloucester ( ) is a cathedral city and the county town of Gloucestershire in the South West of England. Gloucester lies on the River Severn, between the Cotswolds to the east and the Forest of Dean to the west, east of Monmouth and east ...

Mercer Mercer may refer to: Business * Mercer (car), a defunct American automobile manufacturer (1909–1925) * Mercer (consulting firm), a large human resources consulting firm headquartered in New York City * Mercer (occupation), a merchant or trader, ...

counties in

New Jersey New Jersey is a state in the Mid-Atlantic and Northeastern regions of the United States. It is bordered on the north and east by the state of New York; on the east, southeast, and south by the Atlantic Ocean; on the west by the Delaware ...

. Borrowers must be Jewish or serve the Jewish community. Credit-worthy co-signers who live in Pennsylvania or New Jersey are required to guarantee repayment for all loans. HFPGP lends money for many purposes, including but not limited to: * Medical and dental bills *

Home repair Home repair involves the diagnosis and resolution of problems in a home, and is related to home maintenance to avoid such problems. Many types of repairs are "do it yourself" (DIY) projects, while others may be so complicated, time-consuming ...

s * Apartment rental and deposits * First home purchase

closing costs Closing costs are fees paid at the '' closing'' of a real estate transaction. This point in time called the ''closing'' is when the title to the property is conveyed (transferred) to the buyer. Closing costs are incurred by either the buyer or th ...

* Family member

immigration Immigration is the international movement of people to a destination country of which they are not natives or where they do not possess citizenship in order to settle as permanent residents or naturalized citizens. Commuters, tourists, a ...

* Adoption *

Fertility treatment Assisted reproductive technology (ART) includes medical procedures used primarily to address infertility. This subject involves procedures such as in vitro fertilization (IVF), intracytoplasmic sperm injection (ICSI), cryopreservation of gametes ...

s * Jewish camp *

Unemployment Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is people above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the refere ...

* Vocational and job training *

Education Education is a purposeful activity directed at achieving certain aims, such as transmitting knowledge or fostering skills and character traits. These aims may include the development of understanding, rationality, kindness, and honesty ...

Business loans

HFLGP offers interest-free loans up to $15,000 for new businesses or businesses changing their direction, though the R & B Business Loan Fund at Congregation Beth Or. Borrowers must live in the Philadelphia area, specifically Bucks, Chester,

, Montgomery or

counties in

, or Burlington, Camden,

counties in

. Unlike HFLGP's personal loans, this loan program is non-sectarian. Two credit-worthy co-signers who live in Pennsylvania or New Jersey are required to guarantee repayment for all loans.

History

Hebrew Free Loan Societies are based on the Biblical injunction "If you lend money to My people, to the poor among you, do not act towards them as a creditor; exact no interest from them." ( Exodus 22:24) Jewish communities throughout history have included these organizations as one of the pillars of communal life. The Hebrew Free Society of Greater Philadelphia was founded in 1984 through the efforts of Rabbi

Aaron Landes Aaron Landes (October 1, 1929 – April 19, 2014) was an American rabbi in the Conservative movement and a rear admiral in the United States Naval Reserve. He served as rabbi of Beth Sholom Congregation in Elkins Park, Pennsylvania for 36 years. ...

z"l. Bernard and Marie Granor agreed to spearhead the original effort and Bernard served as President of the Society for more than 20 years.

External links

Hebrew Free Loan Society of Greater Philadelphia -- official website

Hebrew Free Loan Society in the November 2008 Philadelphia Jewish Voice

International Association of Hebrew Free Loans

{{DEFAULTSORT:Hebrew Free Loan Society Of Greater Philadelphia Microfinance organizations Charities based in Pennsylvania Jews and Judaism in Philadelphia Organizations established in 1984 Jewish charities based in the United States 1984 establishments in Pennsylvania