Nov 1, 2022
Interest-Free Loans Provide Relief in Tough Economic Times
With rampant inflation and the high costs of housing, food and gas, making ends meet is not always easy. Sometimes, a little short-term assistance can go a long way. For more than 30 years, Federation’s Hebrew Free Loan Association of Miami (HFLA) has provided interest-free loans to members of the Jewish community and those who work for Miami's Jewish institutions to help bridge the gap during challenging times. HFLA offers loans to cover personal, business, emergency, adoption and fertility expenses, with a grace period of three months before payback begins. “This is really a hand-up, not a hand-out for people struggling during tough economic times,” says Jaclyn Bergman, HFLA Chair. “We want people to really feel good and supported by our Jewish community. And it’s a testament to our community that the vast majority of loans are paid back quickly to enable the next person to benefit.” Since the inception of HFLA, more than $4 million has been distributed through over 1,500 interest-free loans. To learn more, watch this short video, featuring HFLA’s Immediate Past Chair Michelle Ben-Aviv and several loan recipients. To apply for an economic relief loan, click here.