January 2020
We’re delighted to announce that since the launch of the JCF Social Impact Loan Program in November 2018, JCF Fundholders have provided nearly $1.2 million in interest-free loans to Hebrew Free Loan Society (HFLS) borrowers in need. To date, this capital made possible 135 loans ranging in size from $2,000 to $50,745. The average loan size was $8,881.
Every dollar invested in the JCF Social Impact Loan Program is now in the hands of HFLS borrowers. This quarter, as a result of the JCF Social Impact Loan Program, HFLS disbursed 22 loans ranging in size from $4,900 to $10,000, toalling $50,000. Access to safe, affordable credit is an important tool for financial stability and opportunity. Interest-free loans are not only a powerful modern expression of an ancient Jewish philanthropic practice, they are also one of the only options for lower-income borrowers seeking to improve their lives by investing in education, affordable housing or entrepreneurship.
To provide a more personal sense of the impact HFLS is having, the organization has shared profiles of borrowers whose lives have been changed by a loan from HFLS.
Here at Jewish Communal Fund, we are continually working to provide our Fundholders with opportunities to increase their impact and their philanthropy. For any questions related to the JCF Social Impact Loan Program, please reach out to us at 212.752.8277.
