Every now and then, we will shine a spotlight on nonprofit organizations at work on our communities. This time our spotlight shines on the Hebrew Free Loan Association.
Organization Name: Hebrew Free Loan Association
Year Founded: 1904
Contact: Rabbi Susan B. Stone, Executive Director
Address: 23300 Chagrin Blvd., 204, Beachwood OH 44122
Phone: (216) 378-9042
FAX: (216) 378-9007
Mission:
The Hebrew Free Loan Association loans money, free of interest and fees, to needy and responsible people who cannot obtain funds through conventional resources. The organization makes loans without regard to race, creed or country of national origin.
Background:
The Hebrew Free Loan Association is a non-profit organization that has been providing interest free loans to people since 1904. Since originating with a handful of volunteers pooling their funds, it has grown to make over 27,000 loans in its history, totaling over $7 million dollars.
Current programs:
The organization makes loans in four categories to the general community: general funds, nurses’ assistants training, graduate school loans and undergraduate study. There are two programs open to members of the Jewish community only: resettlement loans (administered on behalf of the Jewish Community Federation of Cleveland) and foreclosure prevention and aid.
Programming includes: outreach to nursing students, dental students, single mothers in need of reliable transportation, and people facing foreclosure or related housing crises.
Funding Needs:
The organization is completely funded by private donations from individuals, foundations and corporations. In 2007, the organization granted more than 60 loans, a substantial increase over the previous year’s total of 48. The increasing demand necessitates both an increase in designated loan funds and general operating moneys.
Would you like to have your organization spotlighted? Following the above format, send your spotlight to David Holmes.
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Posted by: Robin Smith | September 18, 2009 at 05:40 AM